The meeting of the Federal Reserve’s Federal Open Market Committee ended Wednesday with the Committee’s customary post-meeting statement recapping monetary policy matters considered by the Committee. Members voted not to change the current target rate range of the federal funds rate. The current rate range of 2.25 percent to 2.50 percent.
Federal Funds Target Rate Range: Monetary Policymakers Remain “Patient“
FOMC members cited low inflation pressures, global and domestic economic and financial developments as supporting the Committee’s decision to leave the Federal funds rate unchanged despite recent political pressures to lower the rate and increase the Fed’s accommodative stance toward boosting the economy.
FOMC members evaluated actual and expected economic conditions, labor markets and readings on global and domestic current events and economic news. Based on their assessments, FOMC members again asserted their willingness to be patient concerning Committee decisions to change the federal funds rate range.
The Fed’s dual mandate of supporting maximum employment and stable pricing as indicated by low national unemployment rates and the benchmark inflation rate of two percent are foundation