In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 per cent inflation objective. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 per cent inflation.
In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1-3/4 to 2 per cent. This advertisement has not loaded yet, but your article continues below.