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 that 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 over the past year but remains elevated, with 'modest further progress' toward the 2 percent objective in recent months
• 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
• Judges that risks to achieving its employment and inflation goals have 'moved toward better balance' over the past year, while remaining 'highly attentive to inflation risks'

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