FOMC statement

FOMC Statement and Forecasts

September 26, 2018

The Federal Open Market Committee as expected raised its federal funds target by a quarter percentage point to a range of 2.00 – 2.25%. The released statement Repeated the same first paragraph used after the August 1 statement, which deals with economic conditions. Made no changes to the second paragraph that projects how its mandate […] More

FOMC Statement

May 2, 2018

Today’s just-released FOMC statement sets the stage for a rate hike in June. The view regarding economic activity and labor market conditions is as upbeat as in March. The comment on investment is even more encouraging. On inflation, officials as much as say that the target is close at hand. A decision not to change […] More

FOMC Statement

January 31, 2018

The Federal Open Market Committee as assumed by  market players decided to keep its 1.25-1.50% federal funds target range unchanged and did so by a unanimous 9-0 vote in the last meeting to be chaired by Janet Yellen. A statement released today at 19:00 GMT characterizes the labor market as improving, economic growth as solid, […] More

FOMC Statement Conveys Little New Information

November 1, 2017

The FOMC statement was released at 18:00 GMT. Fifteen minutes later, key market prices — the dollar, 10-year Treasury yield, gold, oil and the DOW — were barely changed. The message was one of continuity. The November 1, 2017 FOMC statement reads almost identically to the one from the prior meeting on September 20. The current […] More

FOMC Leaves Its Monetary Policy As Is

May 3, 2017

The post-meeting FOMC press release didn’t contain any news to move markets much one way or the other. Regarding U.S. economic conditions, slower growth last quarter is considered “likely to be transitory,” and there’s been no change in the committee’s projection of moderately-paced economic growth with roughly balanced risks. On-year inflation is already just slightly […] More

FOMC Statement Omits Any Definitive Sign that December Rate Hike is Mostly Baked

November 2, 2016

Today’s was a meeting without a scheduled press conference, and the lack of a policy change eliminated any need for a change of plans in that regard. My preview mentioned that the statement might say something definitive about its December meeting; that didn’t happen. In today’s statement, some tweaks were made to the opening paragraph […] More

A More Hawkish FOMC Statement than Some Were Expecting

January 27, 2016

The January FOMC statement is neither all hawkish nor noticeably more dovish than the one released six weeks ago when the first federal funds rate hike since June 2006 was made.  Considering the disappointing economic data and wildly tumultuous financial and commodity market movement during the interim, the surprise is that the statement still implies […] More

FOMC Statement and Press Conference

June 17, 2015

Today’s statement and press conference identifies progress toward each of its mandates of full employment and 2.0% inflation in the PCE deflator occurred since its late April meeting but not enough to warrant an initial federal funds rate hike.  The funds target range remains at 0.0-0.25%.  A map was not supplied to know exactly when […] More

FOMC Preview

June 17, 2015

Federal Reserve officials have gradually modified their forward policy guidance, with three messages in mind: Policy will be data driven and not constrained to any pre-conceived timetable. The first rate hike would not occur before this June meeting but could happen anytime from that meeting onward. Once the first rate increase is done, subsequent changes […] More

FOMC Statement

January 28, 2015

The January 27-28 monetary policy statement from the Federal Open Market Committee carried no dissents, unlike the previous statement in which R. Fisher, Plosser and Kocherlakota each had some sort of disagreement with the majority.  The statement upgrades the pace of the economic expansion to solid, observes a further decline in labor market underutilization, predicts […] More