(Bloomberg) --
(Bloomberg) -- Following is the FOMC statement releasedtoday by the Federal Reserve in Washington:
Information received since the Federal Open Market Committee metin January indicates that the labor market remains strong butthat growth of economic activity has slowed from its solid ratein the fourth quarter. Payroll employment was little changed inFebruary, but job gains have been solid, on average, in recentmonths, and the unemployment rate has remained low. Recentindicators point to slower growth of household spending andbusiness fixed investment in the first quarter. On a 12-monthbasis, overall inflation has declined, largely as a result oflower energy prices; inflation for items other than food andenergy remains near 2 percent. On balance, market-based measuresof inflation compensation have remained low in recent months,and survey-based measures of longer-term inflation expectationsare little changed.
Consistent with its statutory mandate, the Committee seeks tofoster maximum employment and price stability. In support ofthese goals, the Committee decided to maintain the target rangefor the federal funds rate at 2-1/4 to 2-1/2 percent. TheCommittee continues to view sustained expansion of economicactivity, strong labor market conditions, and inflation near theCommittee's symmetric 2 percent objective as the most likelyoutcomes. In light of global economic and financial developmentsand muted inflation pressures, the Committee will be patient asit determines what future adjustments to the target range forthe federal funds rate may be appropriate to support theseoutcomes.
In determining the timing and size of future adjustments to thetarget range for the federal funds rate, the Committee willassess realized and expected economic conditions relative to itsmaximum employment objective and its symmetric 2 percentinflation objective. This assessment will take into account awide range of information, including measures of labor marketconditions, indicators of inflation pressures and inflationexpectations, and readings on financial and internationaldevelopments.
Voting for the FOMC monetary policy action were: Jerome H.Powell, Chairman; John C. Williams, Vice Chairman; Michelle W.Bowman; Lael Brainard; James Bullard; Richard H. Clarida;Charles L. Evans; Esther L. George; Randal K. Quarles; and EricS. Rosengren.
SOURCE: Federal Reserve Board
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
