Summary
- The FOMC said that "U.S. economic activity has been expanding at a solid pace."
- The FOMC said "uncertainty" around the economic outlook "remains elevated," adding that the extent and timing of additional policy adjustments will be determined by incoming economic data and the outlook.
- The FOMC decided to hold the policy rate at this meeting, calling it the "first since July last year."
The Federal Open Market Committee (FOMC) of the U.S. Federal Reserve (Fed) said in a statement on the 28th (local time) that "U.S. economic activity has been expanding at a solid pace." The FOMC explained that "inflation remains somewhat elevated, but the unemployment rate is showing signs of stabilizing."
In this statement, the previously included phrase that "downside risks to employment have increased" was removed. The FOMC said that "uncertainty around the economic outlook remains elevated," adding that "the extent and timing of additional policy adjustments will be determined by incoming economic data and the outlook."
Meanwhile, the FOMC left the policy rate unchanged at this meeting. It was the first hold since July last year.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
