FOMC · September 20, 2023 · 14:00 ET
FOMC Rate Decision
Released
FOMC Rate Decision was released on September 20, 2023 (14:00 ET): Target Range Upper came in at 5.5%, vs 5.5% prior.
| Metric | Prior | Actual |
|---|---|---|
| Target Range Upper | 5.5% | 5.5% |
| Target Range Lower | 5.25% | 5.25% |
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What the statement says
FOMC holds the federal funds rate target range steady at 5-1/4 to 5-1/2 percent, reaffirms strong commitment to 2% inflation goal, and continues balance sheet reduction as previously announced
- Maintains the federal funds rate target range at 5-1/4 to 5-1/2 percent
- States it will consider the cumulative tightening of monetary policy, lags in policy effects, and economic and financial developments when assessing the extent of additional policy firming needed to return inflation to 2 percent
- Continues reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities as described in its previously announced plans
- Remains 'highly attentive to inflation risks' and is 'strongly committed to returning inflation to its 2 percent objective'
- Notes that job gains have slowed but remain strong, the unemployment rate has remained low, inflation remains elevated, the banking system is sound and resilient, and tighter credit conditions are likely to weigh on economic activity, hiring, and inflation
AI-generated summary of the official text. The official statement is authoritative. Not investment advice.
Figures as published by the official source, which is authoritative. Not investment advice.