FOMC held the funds rate steady at 1.75% to on..>

FED: FOMC held the funds rate steady at 1.75% to 2.00% on 8-0 vote, and 

left all the key phrases unchanged from the June statement. Some of the 

economic language appears more upbeat, setting up a rate hike 

possibility at the next meeting. There were no mentions of trade or 

fiscal policy. 

- The FOMC now say the overall and core inflation "remain near 2%," 

compared with the June statement that said "moved close to 2%."

- Still say job gains have "been strong" and now says unemployment rate 

has "stayed low" rather than "has declined."

 - The FOMC now says economic activity has been rising at a "strong 

rate," rather than a "solid rate." They noted that household spending 

and business fixed investment have "grown strongly," an upgrade to 

household spending from saying it had "picked up" in the June statement.

- The FOMC still sees "further gradual increase" and that the stance of 

monetary policy "remains accommodative."

- The FOMC repeated that inflation is expected to run near the 2% 

"symmetric" objective over the medium term and that risks to the 

economic outlook "appear roughly balanced." They also repeated that 

"indicators of longer-term inflation expectations are little changed, on 

balance."