Us fomc news
You're looking for the latest news from the Federal Open Market Committee (FOMC), the monetary policy-making body of the Federal Reserve System in the United States. Here are some recent updates:
Latest FOMC Meeting Minutes:
- The FOMC met on March 15-16, 2023, and released the minutes of the meeting on April 5, 2023. The minutes showed that the committee discussed the potential risks and challenges associated with the ongoing economic recovery, including the impact of the war in Ukraine and the ongoing pandemic.
- The minutes also highlighted the committee's concerns about inflation, which has been running above the Fed's 2% target, and the need to maintain a accommodative monetary policy to support the economy.
FOMC Decision:
- At the March 15-16 meeting, the FOMC voted to keep the federal funds target rate unchanged at 0.00-0.25%. The committee also decided to continue its asset purchase program, which is aimed at supporting the economy and keeping long-term interest rates low.
- The FOMC also released a statement indicating that it expects to keep the federal funds rate at its current level "until labor market conditions have reached maximum employment and inflation for the average of the year ahead is at 2%."
FOMC Members' Views:
- In recent public statements, some FOMC members have expressed concerns about the potential risks of inflation and the need to raise interest rates to keep inflation in check.
- For example, Federal Reserve Chairman Jerome Powell has stated that the Fed is "watching" inflation closely and is prepared to take action if necessary to keep inflation under control.
- Other FOMC members, such as New York Fed President John Williams, have expressed more dovish views, suggesting that the Fed may not need to raise interest rates as quickly as some have anticipated.
Economic Data:
- The latest economic data has been mixed, with some indicators suggesting a strong recovery and others indicating ongoing challenges.
- The Bureau of Labor Statistics reported that the unemployment rate fell to 3.6% in March, the lowest level since 1969.
- However, the Bureau of Economic Analysis reported that the economy grew at an annual rate of 1.4% in the first quarter of 2023, down from 4.1% in the fourth quarter of 2022.
I hope this information is helpful!