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For additional information relating to this article, please contact:

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

December 13, 2017

Today, December 13, 2017, the Federal Open Market Committee (FOMC) increased by 0.25 per cent the target range the federal funds rate to 1.25 to 1.50 per cent. As previously announced, each month $6 billion Treasury securities and $4 billion mortgage-backed securities will not be rolled over in order to normalize the size of the Federal Reserve's balance sheet. The Committee noted that they expect economic conditions to evolve in a manner that will warrant gradual increases in the federal fund rate.

Information since November indicates that the labour market has continued to strengthen and that economic activity has been rising at a solid rate. Household spending continues at a moderate rate and business fixed investment has picked up. Hurricane-related disruptions and rebuilding have affected the economy but have not materially changed the outlook for the US economy. Inflation and inflation for items other than food and energy have declined in 2017 and continue to be below 2 per cent. Market-based measures of inflation compensation remain low. Inflation is expected to remain below 2 per cent in the near term before stabilizing around 2 per cent in the medium term.



 US Federal Reserve


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