Federal Reserve Board – Federal Reserve issued FOMC information

Recent signs suggest economic growth has slowed from its strong pace in the third quarter. Labor income has declined since the start of the year but remains strong, and unemployment remains low. The cost of living has decreased in the past year but is still high.

The American banking system is sound and secure. Financial and credit conditions for households and businesses may affect the economy, investment, and inflation. Many of these effects remain uncertain. The Committee remains alert to inflationary risks.

The Committee seeks to achieve maximum employment and inflation at a rate of 2 percent over the long term. In support of these goals, the Committee decided to maintain the federal funds rate at 5-1/4 to 5-1/2 percent. The Committee will continue to evaluate additional information and its implications for monetary policy. In determining the extent of any additional policy measures that may be necessary to return inflation to 2 percent over time, the Committee will take into account the combination of monetary policy tightening, The delay in monetary policy affects the economy and the economy, and the economy and the economy. financial development. In addition, the Committee will continue to reduce its Treasury bonds and agency debt and agency mortgage records, as described in its previously announced plans. The Committee is committed to bringing inflation back to its 2 percent target.

In assessing the appropriateness of the financial policies, the Committee will continue to monitor the effects of the information that is coming for the perspective of the economy. The Committee will be prepared to adjust the level of financial policies if appropriate when there are risks that may hinder the achievement of the Committee’s goals. The Committee’s evaluation will take into account a wide range of information, including readings on labor market conditions, price pressures and price expectations, and financial and international developments.

The vote for monetary policy was Jerome H. Powell, Chairman; John C. Williams, Vice Chairman; Michael S. Barr; Michelle W. Bowman; Lisa D. Cook; Austin D. Goolsbee; Patrick Harker; Philip N. Jefferson; Neel Kashkari; Adriana D. Kugler; Lori K. Logan; and Christopher J. Waller.

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Performance Information issued on December 13, 2023