U.S. Federal Open Market Committee June 13: Statement Text

(Bloomberg) -- Following is the FOMC statement releasedtoday by the Federal Reserve in Washington:

Information received since the Federal Open Market Committee metin May indicates that the labor market has continued tostrengthen and that economic activity has been rising at a solidrate. Job gains have been strong, on average, in recent months,and the unemployment rate has declined. Recent data suggest thatgrowth of household spending has picked up, while business fixedinvestment has continued to grow strongly. On a 12-month basis,both overall inflation and inflation for items other than foodand energy have moved close to 2 percent. Indicators of longer-term inflation expectations are little changed, on balance.