Economics
Fed Leaves Rates Unchanged, Says Inflation Close to Target
- FOMC statement mentions ‘symmetric’ inflation goal twice
- Repeats economy to warrant further gradual rate increases
This article is for subscribers only.
Federal Reserve officials left interest rates unchanged, acknowledging inflation is close to target without indicating any intention to veer from their gradual tightening of monetary policy.
“Inflation on a 12-month basis is expected to run near the committee’s symmetric 2 percent objective over the medium term,” the policy-setting Federal Open Market Committee said in a statement Wednesday in Washington. “The committee expects that economic conditions will evolve in a manner that will warrant further gradual increases in the federal funds rate.”