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May 01, 2019US MONETARY POLICY Today, May 1st, 2019, the Federal Open Market Committee (FOMC) voted to maintain the target range for the federal funds rate of 2.25 to 2.50 per cent. The Committee noted that they expect the economic expansion to be sustained with a strong labour market and inflation near the 2 per cent objective. However, in light of global economic and financial developments and muted inflation pressures, the committee "will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes".
Information received since March indicates that the labour market remains strong and economic activity is rising. Growth of household spending and business fixed investment slowed in Q1. Inflation and inflation for items other than food and energy have declined and are below 2 per cent.
US Federal Reserve
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