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For additional information relating to this article, please contact:

Barbara Ruszel Economist
Tel: 902-424-1848Email:

September 20, 2017

Today, September 20, 2017, the Federal Open Market Committee (FOMC) maintained the target range for the federal funds rate at 1.0 to 1.25 per cent. The Committee announced that the previously detailed planned balance sheet normalization will begin in October. Beginning in October, $6 billion Treasury securities and $4 billion of mortgage-backed securities will not be rolled over.

Information since July indicate that the US labour market has continued to strengthen and economic activity has been rising moderately. Household spending has expanded at a moderate rate and business fixed investment has picked up. Inflation, excluding food and energy prices, have declined and is below 2 per cent while measure of inflation compensation remain low. Storm-related disruptions and rebuilding will affect economic activity in near term but are not expected to alter US economic growth over the medium term. Higher prices for gasoline and other items in aftermath of hurricanes will likely boost inflation temporarily. However, apart from that effect, inflation will remain below 2 per cent and stabilize around 2 per cent target.

 US Federal Reserve


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