Acknowledging that economic indicators are improving, the Federal Open Market Committee (FOMC) unanimously maintained the current federal funds rate at 5.25-5.5 percent and reiterated its commitment to reduce balance sheet holdings of Treasury and Agency mortgage-backed securities. The Committee is waiting for greater confidence in inflation approaching the 2 percent target before considering a reduction in the federal funds rate. However, it remains prepared to adjust its stance in response to emerging risks.
FOMC Meeting—Federal Reserve Holds Interest Rate for the Present
Published on February 2, 2024
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