LATEST NEWS: Here is the FOMC statement released after interest rates were left unchanged!
At its July meeting, the Federal Reserve left interest rates unchanged in the 3.50–3.75 percent range. The decision was approved by a vote of 9 to 3, with three policymakers dissenting in favor of a 25 basis point hike, signaling heightened internal support for tighter policy within the central bank. The dissenting votes underscored the hawkish stance of the decision.
The Fed stated that U.S. economic activity continues to expand at a solid pace while inflation remains above the 2% target, partly due to recent shocks. The statement noted that job gains have kept pace with labor supply growth and the unemployment rate has remained low. It also highlighted that productivity and capital investment growth remain strong.
The Federal Reserve affirmed it will continue to maintain ample reserve levels in the banking system. The FOMC stated it will keep closely monitoring incoming data and risks in pursuit of its goals of price stability and maximum employment.
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