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August 01, 2018US MONETARY POLICY Today, August 1st, 2018, the Federal Open Market Committee (FOMC) voted to maintain the target range for the federal funds rate of 1.75 to 2.00 per cent. The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labour market conditions and inflation near the symmetric 2 per cent objective.
The Committee noted that the labour market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong and the unemployment rate has stayed low. Overall inflation and inflation for items other than food and energy have remained near 2 per cent while longer-term inflation expectations are little changed.
US Federal Reserve
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