Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Monetary Policy topic
No spam. Unsubscribe anytime.
FOMC votes 9–3 to hold federal funds target at 3.5%–3.75%
Summary
The Federal Open Market Committee voted 9 to 3 to keep the federal funds target range at 3.5–3.75 percent and said it will continue making ample reserves available while monitoring inflation and markets.
The Chair of the Federal Open Market Committee said the committee voted "by a 9 to 3 vote to maintain the target range for the federal funds rate at 3.5 to 3.75 percent." The decision, announced at the press briefing, leaves the overnight policy rate unchanged and preserves the committee's operational posture.
The chair added that "the committee is continuing its policy of making ample reserves in the banking system." Committee officials framed the move as consistent with the Fed’s goal of delivering price stability while watching economic developments. The vote tally indicates a clear majority in favor of holding the rate, with three dissenting votes. The committee reiterated it will act if conditions warrant.
