2023-02-03 11:00:00
U.S. FEDERAL FUNDS RATE 4.5 - 4.75%
U.S. FRB - February 01, 2023 - Federal Reserve issues FOMC statement
Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation has eased somewhat but remains elevated.
Russia's war against Ukraine is causing tremendous human and economic hardship and is contributing to elevated global uncertainty. The Committee is highly attentive to inflation risks.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 4-1/2 to 4-3/4 percent. The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time. In determining the extent of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective.
In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.
Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Lael Brainard; Lisa D. Cook; Austan D. Goolsbee; Patrick Harker; Philip N. Jefferson; Neel Kashkari; Lorie K. Logan; and Christopher J. Waller.
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Earlier:
2023, January, 9, 12:10:00
U.S. EMPLOYMENT UP BY 223,000
Total nonfarm payroll employment increased by 223,000 in December, and the unemployment rate edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported.
2022, December, 16, 12:00:00
U.S. FEDERAL FUNDS RATE 4.25 - 4.50%
The Committee decided to raise the target range for the federal funds rate to 4-1/4 to 4-1/2 percent.
2022, December, 5, 11:20:00
U.S. EMPLOYMENT UP BY 263,000
Total nonfarm payroll employment increased by 263,000 in November, and the unemployment rate was unchanged at 3.7 percent.
2022, November, 21, 10:45:00
U.S. ENERGY TRANSMISSION HAVE TO DOUBLE
Historically in the U.S., transmission infrastructure has expanded annually by about 1%. The study explains the country's transmission infrastructure must expand at a pace of 2.3% annually — more than double its current pace.
2022, November, 9, 10:30:00
U.S. EMPLOYMENT UP BY 261,000
Total nonfarm payroll employment increased by 261,000 in October, and the unemployment rate rose to 3.7 percent, the U.S. Bureau of Labor Statistics reported.
2022, November, 3, 11:55:00
U.S. FEDERAL FUNDS RATE 3.75 - 4.00%
The Committee decided to raise the target range for the federal funds rate to 3-3/4 to 4 percent.
2022, October, 10, 12:30:00
U.S. EMPLOYMENT UP BY 263,000
Total nonfarm payroll employment increased by 263,000 in September, and the unemployment rate edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported
