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By Jean Yung, Kevin Kastner, Holly Stokes and Sara Haire
WASHINGTON (MNI) - The following are the key points from the
FOMC statement released Wednesday:
- FOMC raised the funds rate to 1.25% to 1.50% on 7-2 vote. Evans
and Kashkari dissented, wanting no rate hike.
- There was little change in the statement and the dots suggest
three hikes in 2018
- The median expectation for rates at the end of each year were
unchanged for 2018 (2.1%) and 2019 (2.7%), but the outlook for 2019 was
bumped up to 3.1% from 2.9%. It was unchanged at 2.8% for the long run.
- The FOMC still expects "gradual increase" in the funds rate and
risks remain "roughly balanced"
- The economic projections show bumped up expectations for GDP in
2018, with a lower unemployment rate (3.9%) expected for 2018 and 2019,
and for 2020 (4.0%). Core PCE inflation expectations were unchanged.
** MNI Washington Bureau: 202-371-2121 **