FOMC Monetary Policy Statement September Meeting - Text>

--August 1 Statement Follows for Comparison     

     WASHINGTON (MNI) - The following is the complete text of the FOMC 

statement issued Wednesday. The August 1 statement follows for 

comparison: 

     Information received since the Federal Open Market Committee met in 

August indicates that the labor market has continued to strengthen and 

that economic activity has been rising at a strong rate. Job gains have 

been strong, on average, in recent months, and the unemployment rate has 

stayed low. Household spending and business fixed investment have grown 

strongly. On a 12-month basis, both overall inflation and inflation for 

items other than food and energy remain near 2 percent. Indicators of 

longer-term inflation expectations are little changed, on balance. 

     Consistent with its statutory mandate, the Committee seeks to 

foster maximum employment and price stability. The Committee expects 

that further gradual increases in the target range for the federal funds 

rate will be consistent with sustained expansion of economic activity, 

strong labor market conditions, and inflation near the Committee's 

symmetric 2 percent objective over the medium term. Risks to the 

economic outlook appear roughly balanced. 

     In view of realized and expected labor market conditions and 

inflation, the Committee decided to raise the target range for the 

federal funds rate to 2 to 2-1/4 percent. 

     In determining the timing and size of future adjustments to the 

target range for the federal funds rate, the Committee will assess 

realized and expected economic conditions relative to its maximum 

employment objective and its symmetric 2 percent inflation objective. 

This assessment will take into account a wide range of information, 

including measures of labor market conditions, indicators of inflation 

pressures and inflation expectations, and readings on financial and 

international developments. 

     Voting for the FOMC monetary policy action were: Jerome H. Powell, 

Chairman; John C. Williams, Vice Chairman; Thomas I. Barkin; Raphael W. 

Bostic; Lael Brainard; Richard H. Clarida; Esther L. George; Loretta J. 

Mester; and Randal K. Quarles. 

-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*- 

     The following is the text of the FOMC statement released after the 

policy meeting held July 31 - August 1, 2018:

     Information received since the Federal Open Market Committee met in 

June indicates that the labor market has continued to strengthen and 

that economic activity has been rising at a strong rate. Job gains have 

been strong, on average, in recent months, and the unemployment rate has 

stayed low. Household spending and business fixed investment have grown 

strongly. On a 12-month basis, both overall inflation and inflation for 

items other than food and energy remain near 2 percent. Indicators of 

longer-term inflation expectations are little changed, on balance. 

     Consistent with its statutory mandate, the Committee seeks to 

foster maximum employment and price stability. The Committee expects 

that further gradual increases in the target range for the federal funds 

rate will be consistent with sustained expansion of economic activity, 

strong labor market conditions, and inflation near the Committees 

symmetric 2 percent objective over the medium term. Risks to the 

economic outlook appear roughly balanced. 

     In view of realized and expected labor market conditions and 

inflation, the Committee decided to maintain the target range for the 

federal funds rate at 1-3/4 to 2 percent. The stance of monetary policy 

remains accommodative, thereby supporting strong labor market conditions 

and a sustained return to 2 percent inflation. 

     In determining the timing and size of future adjustments to the 

target range for the federal funds rate, the Committee will assess 

realized and expected economic conditions relative to its maximum 

employment objective and its symmetric 2 percent inflation objective. 

This assessment will take into account a wide range of information, 

including measures of labor market conditions, indicators of inflation 

pressures and inflation expectations, and readings on financial and 

international developments. 

     Voting for the FOMC monetary policy action were: Jerome H. Powell, 

Chairman; John C. Williams, Vice Chairman; Thomas I. Barkin; Raphael W. 

Bostic; Lael Brainard; Esther L. George; Loretta J. Mester; and Randal 

K. Quarles. 

--MNI Washington Bureau, Tel: +1 202-371-2121; email: dcoffice@marketnews.com

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