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February 01, 2017US MONETARY POLICY Today, February 1, 2017, the Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at between 1/2 to 3/4 per cent. The US Federal Reserve noted that the timing and size of future adjustments will be based on both realized and expected economic conditions relative to the objectives of maximum employment and 2 percent inflation. The Committee expects that conditions will evolve in a manner to warrant gradual increases in the federal funds rate and it will remain, for some time, below longer run levels.
Since December, the US labour market has strengthened and economic activity continued at a moderate pace. Household spending continues to rise while business fixed investment remains soft. Measures of business and consumer sentiment have improved. Inflation remains below 2 per cent objective rate and measures of inflation compensation remain low.
US Federal Reserve
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