FOMC STATEMENT:
- The Fed left rates unchanged at 3.75%–4.00%.
- The vote was 10–2. Two officials wanted a 25 bps hike.
- Inflation remains elevated.
- The economy is expanding at a strong pace and spending has held up.
- Hiring is keeping pace with the workforce and unemployment has barely moved.
- Productivity and business investment are strong.
- The Fed says more data will decide the right policy stance from here.
- The Fed says it will deliver price stability.
Overall tone: Hawkish.
- The Fed left rates unchanged at 3.75%–4.00%.
- The vote was 10–2. Two officials wanted a 25 bps hike.
- Inflation remains elevated.
- The economy is expanding at a strong pace and spending has held up.
- Hiring is keeping pace with the workforce and unemployment has barely moved.
- Productivity and business investment are strong.
- The Fed says more data will decide the right policy stance from here.
- The Fed says it will deliver price stability.
Overall tone: Hawkish.
