FOMC Rate Decision

What the statement says

FOMC holds the federal funds rate target range at 5-1/4 to 5-1/2 percent and states it will not reduce the target range until it gains greater confidence inflation is moving sustainably toward 2 percent

• Maintains the federal funds rate target range at 5-1/4 to 5-1/2 percent
• Notes that inflation has eased but remains elevated, and the Committee is strongly committed to returning inflation to its 2 percent objective
• States explicitly that 'it will not be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent'
• Continues reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities as described in previously announced plans
• Judges that risks to achieving its employment and inflation goals are moving into better balance, though the economic outlook is uncertain and the Committee remains highly attentive to inflation risks

AI-generated summary of the official text. The official statement is authoritative. Not investment advice.