Summary
- The Fed stated that the U.S. economy and the labor market remain strong, and that the unemployment rate is low.
- Although inflation is currently slightly above the 2% target, the level of uncertainty in the economic outlook has somewhat eased.
- The Fed announced it will maintain its asset reduction policy and will carefully consider various economic indicators when making interest rate decisions.
On the 18th (local time), the Federal Open Market Committee (FOMC) of the Fed stated, "The U.S. economy continues to show solid growth, the labor market remains stable, and the unemployment rate is at a low level."
However, the Fed noted, "Current inflation is somewhat above the 2% target," while also assessing that "uncertainties regarding the economic outlook have somewhat eased."
Accordingly, regarding future interest rate adjustments, it said, "We will carefully consider relevant economic indicators and outlooks to make a prudent decision."
Additionally, the Fed added that it will continue its asset reduction policy (quantitative tightening) as planned.
Meanwhile, the Fed revised its U.S. GDP growth forecast for this year down to 1.4%, and raised its annual inflation outlook to 3%.
JH Kim
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