The Fed admitted in the statement issued after today’s FOMC meeting that “in recent months, there has been a lack of further progress toward the… 2% inflation objective”. Otherwise, today’s statement was largely unchanged – with officials still looking to gain “greater confidence” the inflation is moving down to 2% sustainably before it would be appropriate to cut rates. The vote was unanimous and there is nothing to suggest that rate hikes are back on the table – although Chair Jerome Powell will undoubtedly be asked the question in his upcoming press conference.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services