Fed kept interest rates unchanged at 5.25-5.50%, as widely anticipated, with a unanimous vote. The accompanying statement closely mirrored June’s guidance for future decisions, maintaining that the Fed is “prepared to adjust the stance of monetary policy as appropriate.”
Fed emphasized that its assessments will consider a “wide range of information,” indicating that it is keeping its plans for potential rate cuts close to the chest for now.
On the economic front, Fed acknowledged that job gains have “moderated” and the unemployment rate has “moved up.” Additionally, the statement noted “some further progress” in reducing inflation towards the target. Fed also mentioned that risks to inflation and employment are continuing to “move into better balance.”
Full FOMC statement here.
