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

January 31, 2018

Today, January 31, 2018, the Federal Open Market Committee (FOMC) voted to maintain the target range of federal funds rate at 1.25 to 1.50 per cent. Effective February 1, 2018 each month $12 billion Treasury securities and $8 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 December indicates that the labour market has continued to strengthen and that economic activity has been rising at a solid rate. Employment, household spending and business investment remain solid. Overall inflation and inflation less food and energy both continue to be below 2 per cent while market-based measures of inflation compensation have increased in recent months but remain low. Longer-term inflation expectations are little changed. The FOMC expects that with gradual adjustments in monetary policy, economic activity will expand at a moderate pace and labour market conditions will continue to be strong.





 US Federal Reserve


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