Summary:
- Indicators of economic activity and employment have continued to strengthen. The sectors most adversely affected by the pandemic have improved in recent months but have been affected by the recent sharp rise in COVID-19 cases. (No Change)
- Supply and demand imbalances related to the pandemic and the reopening of the economy have contributed to elevated levels of inflation. (No Change)
- Financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses. (No Change)
- The path of the economy continues to depend on the course of the virus. (No Change)
- Progress on vaccinations will likely reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain. (No Change)
- The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. (No Change)
- Keep the target range for the federal funds rate at 0 to 1/4 percent. (No Change)
- With inflation well above 2 percent and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate. (Change)
- The Committee decided to continue reducing the monthly pace of its net asset purchases, bringing them to an end in March. Beginning in February, the Committee will increase its holdings of Treasury securities by at least $20 billion per month and of agency mortgage-backed securities by at least $10 billion per month. (Change)
- Voting for the action is unanimous. (No Change)
Click here for the full comparison.