today’s FOMC statement on policy

FOMC Leaves Interest Rate Unchanged, Upgrades GDP and Personal Consumption Assessments

August 1, 2018

Today’s statement sets the stage for a likely eighth interest rate hike at the next FOMC meeting in September. Assessments of overall growth and the key consumption component of demand were each upgraded to “strong.” Policy continues to be characterized as accommodative and thereby supportive of “strong labor market conditions and a sustained return to […] More