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Federal Reserve issues FOMC statement
Information received since the Federal Open Market Committee met in September indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although household spending has been rising at a strong pace, business fixed investment and exports remain weak. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term ... (full story)
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Here’s what changed in the new Fed statement
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued on Sept. 18 after the Fed’s previous policymaking meeting. Text removed from the September statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both statements.
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Fed cuts rates by quarter point while hinting at policy pause
Federal Reserve officials reduced interest rates by a quarter-percentage point for the third time this year and hinted they may now put monetary policy on hold, for one meeting at least. The Federal Open Market Committee altered language in its statement following the two-day meeting Wednesday, dropping its pledge to “act as appropriate to sustain the expansion,” while adding a promise to monitor data as it “assesses the appropriate path of the target range for the federal funds rate.” As with the September statement, the FOMC cited the implications of global developments in deciding to lower the target range ... (full story)
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