The Federal Open Market Committee approved the following statement for release by a 9, 3 vote
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The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve's dual mandate.
Key facts
The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve's dual mandate
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The Federal Open Market Committee approved the following statement for release by a 9, 3 vote
Logan, who preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting
Summary
For release at 2:00 p.m. The Federal Open Market Committee approved the following statement for release by a 9, 3 vote:. Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East. Inflation remains elevated relative to the Committee's 2 percent goal, in part reflecting supply shocks that have driven price increases in certain sectors, including energy.