FOMC · November 1, 2023 · 14:00 ET
FOMC Rate Decision
Released
FOMC Rate Decision was released on November 1, 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% |
About FOMC Rate Decision: release schedule & how to read it →
Get the actual number pushed within seconds — download FirstPrint
What the statement says
The FOMC held the federal funds rate target range steady at 5-1/4 to 5-1/2 percent and reaffirmed its strong commitment to returning inflation to 2 percent.
- Maintained the federal funds rate target range at 5-1/4 to 5-1/2 percent.
- Noted that inflation remains elevated, the Committee remains highly attentive to inflation risks, and is strongly committed to returning inflation to its 2 percent objective.
- Continued reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities as previously announced.
- Future policy firming will depend on the cumulative tightening of monetary policy, lags in monetary policy effects, and economic and financial developments.
- Observed that job gains have moderated since earlier in the year but remain strong, the unemployment rate has remained low, and economic activity expanded at a strong pace in the third quarter.
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.