FOMC Summary of Economic Projections

As expected, and bang in line with market pricing, the FOMC maintained the target range for the fed funds rate between 3.50% - 3.75% at the conclusion of the March meeting, extending a ‘pause’ in the easing cycle which began in January, amid an increasingly uncertain economic outlook in light of ongoing conflict in the Middle East, and the subsequent sharp ...

Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has been little changed in recent months. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook remains elevated. The implications of developments in the Middle East for the U.S. economy are uncertain. The Committee is attentive to the risks to both sides of its dual mandate. In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3‑1/2 to 3‑3/4 percent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments. FOMC STATEMENT COMPARE pic.twitter.com/UcWP3V984g FED SAYS IS 'ATTENTIVE' TO RISKS TO BOTH SIDES OF DUAL MANDATE FED: VOTE IN FAVOR OF POLICY WAS 11-1, WITH GOVERNOR MIRAN DISSENTING IN FAVOR OF 25-BASIS-POINT RATE CUT

PART OF IRAN'S SOUTH PARS PETROCHEMICAL FACILITIES HAVE BEEN ATTACKED - TASNIM IRAN SAYS ASALUYEH OIL INDUSTRY FACILITIES ATTACKED: STATE TV APNewsAlert: DUBAI, United Arab Emirates (AP) — Iranian state media say natural gas facilities associated with offshore South Pars field attacked, without elaborating. IRAN’S ENERGY HEART JUST GOT HIT An attack struck South Pars — the site behind ~70% of Iran’s natural gas. Damage is still unclear, but this area has shut down before after strikes. What changed: This comes as tensions rise, with recent strikes in Iran and Lebanon and… pic.twitter.com/CglR0bjqqC Iran’s state-run media report an attack on facilities at its key South Pars offshore gas field - Iranian state-run media say that facilities associated with Iran’s massive offshore South Pars natural gas field came under attack Wednesday. Both Iranian state television and the state-run IRNA news agency reported on the attack targeting facilities at Asaluyeh in Iran’s southern Bushehr province. It did not immediately elaborate. Iran shares the offshore field in the Persian Gulf with Qatar, which it has repeatedly attacked during the war along with other Gulf Arab nations. It wasn’t clear if Israel or the United States had carried out the attack. However, the U.S. has been operating primarily in southern Iran. The U.S. previously attacked Iran’s Kharg Island in the Persian Gulf, its main oil terminal.