Recent data has reinforced these trends, while inflation has risen from earlier in the year and remains moderately elevated. Policymakers noted that uncertainty around the economic outlook is still high, and downside risks to employment have increased in recent months, the Federal Open Market Committee said in a statement.
The Committee reaffirmed its long-term objectives of maximum employment and two per cent inflation, saying future rate moves will depend on incoming data, the evolving outlook and the overall risk environment. Officials emphasised strong commitment to restoring price stability while supporting labour market conditions.
The Fed also confirmed that reserve balances have fallen to ample levels and said it will begin purchasing shorter-term Treasury securities as needed to maintain sufficient reserves in the financial system.
ALCHEMPro News Desk (KD)
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