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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 kept the funds rate at 1.00% to 1.25% on unanimous vote and
gave no direct guidance for the December meeting, with little change to
the statement from September, but it did seem to downplay the impact of
the storms. As a result, it appears the FOMC is on track for December
- The statement noted that the labor market continued to strengthen
and economic activity grew at a "solid pace" despite the impact of the
- The FOMC acknowledged that in the aftermath of the hurricanes,
payrolls declined and energy prices rise, However, they noted that at
the same time, the unemployment rate slipped further and core inflation
- The Committee repeated that the stance of monetary policy
- The Committee also repeated the language regarding the balance of
risks, that inflation should return to near the 2% objective, and that
the FOMC continues to monitor inflation closely.
** MNI Washington Bureau: 202-371-2121 **