Current:Home > FinanceText of the policy statement the Federal Reserve released Thursday -Aspire Money Growth
Text of the policy statement the Federal Reserve released Thursday
View
Date:2025-04-13 22:01:09
WASHINGTON (AP) — Below is the statement the Federal Reserve released Thursday after its latest policy meeting ended:
Recent indicators suggest that economic activity has continued to expand at a solid pace. Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low. Inflation has made progress toward the Committee’s 2 percent objective but remains somewhat elevated.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate.
In support of its goals, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4-1/2 to 4-3/4 percent. In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective.
In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.
Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Thomas I. Barkin; Michael S. Barr; Raphael W. Bostic; Michelle W. Bowman; Lisa D. Cook; Mary C. Daly; Beth M. Hammack; Philip N. Jefferson; Adriana D. Kugler; and Christopher J. Waller.
veryGood! (2252)
Related
- Arkansas State Police probe death of woman found after officer
- Idaho delays execution of Thomas Eugene Creech after 'badly botched' lethal injection attempts
- Becky G performing Oscar-nominated song The Fire Inside from Flamin' Hot at 2024 Academy Awards
- Wind advisories grip the Midwest as storms move east after overnight tornado warnings
- Trump invites nearly all federal workers to quit now, get paid through September
- Free People's It Girl Quilted Carryall Is Finally Back in Stock! Get It Before It Sells Out
- Caitlin Clark breaks Lynette Woodard's women's scoring record, still chasing Pete Maravich
- TikToker Cat Janice Dead at 31
- Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
- NYC officials clear another storefront illegally housing dozens of migrants in unsafe conditions
Ranking
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
- Former UGA student's slaying prompts fierce national debate on immigration
- Stock market today: Asian shares are mixed after Wall Street slips lower and bitcoin bounces higher
- Stock market today: Asian shares are mixed after Wall Street slips lower and bitcoin bounces higher
- Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
- The Daily Money: 'Surge' pricing at the drive-thru?
- Ryan Gosling will sing 'I'm Just Ken' at the 2024 Oscars: Who else is performing?
- Climate change, cost and competition for water drive settlement over tribal rights to Colorado River
Recommendation
Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
What is IVF? Explaining the procedure in Alabama's controversial Supreme Court ruling.
NHL trade deadline tracker: Analyzing Dallas Stars deal and others made before March 8
US applications for jobless benefits rise but remain historically low despite recent layoffs
Highlights from Trump’s interview with Time magazine
Larry David remembers late 'Curb Your Enthusiasm' co-star Richard Lewis: 'He's been like a brother'
North Carolina’s 5 open congressional seats drawing candidates in droves
Reparations experts say San Francisco’s apology to black residents is a start, but not enough