Summary:
- Recent indicators suggest that growth of economic activity continued to expand at a solid pace. (No Change)
- The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. (No Change)
- Inflation remains somewhat elevated. (No Change)
- The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. (No Change)
- Uncertainty about around the economic outlook has increased further. (Change)
- The Committee judges that the risks of higher unemployment and higher inflation have risen. (Change)
- In support of its goals, the Committee decided to maintain the target range for the federal funds at 4-1/4 to 4-1/2 percent. (No Change)
- In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. (No Change)
- Continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities. (No Change)
- Voting was unanimous. (Change)
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