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June 19, 2019US MONETARY POLICY Today, June 19th, 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 a sustained expansion of economic activity, strong labour market conditions, and inflation near the 2 per cent objective, but uncertainties around the outlook have risen. In light of uncertainties and muted inflation pressures, the committee will “closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labour market and inflation near its symmetric 2 percent objective”.
Recent information has FOMC noting that the labour market remains strong and that economic activity is rising at a moderate rate. Job gains have been solid on average and the unemployment rate has remained low. Although growth of household spending appears to have picked up from earlier in the year, indicators of business fixed investment have been soft. Inflation for items other than food and energy is running below 2 percent.
US Federal Reserve
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