The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
January 29, 2020US MONETARY POLICY After 0.25 percentage point reductions in July, September and October 2019, the Federal Open Market Committee (FOMC) voted today to leave the target range for the federal funds rate at 1.50 to 1.75 per cent. The Committee further noted that it will sustain recent increases in the size of non-reserve liabilities by purchasing Treasury Bills at least into the second quarter. This will maintain ample reserves even during periods of sharp increases in non-reserve liabilities. There will also be continued term and overnight reverse repurchase operations at least through April.
The FOMC noted that this is appropriate for sustained economic expansion, strong labour markets and returning to the symmetric 2 per cent inflation objective. The FOMC noted that they will continue to monitor the implications of incoming information, including global developments and muted inflation pressures, when they assess monetary policy.
The latest information shows the US economy is growing at a moderate pace with solid job gains and low unemployment. Household spending has been strong but exports and business investment continue to be weak. Overall inflation and inflation excluding energy and food are both running below 2 per cent.
US Federal Reserve
<--- Return to Archive
