There were some hawkish details in the initial FOMC decision
Here were the highlights of the decision:
- FOMC left fed funds rate in range from 0.25% to 0.50%, as expected
- Said near term risks to economic outlook have diminished
- George dissented again in favor of a hike (after removing dissent last month in the prior meeting)
- Said the labor market strengthened
- Said household spending has been growing strongly but business fixed investment has been soft
- No change in inflation rhetoric
View the full text of the statement here or the redline below.
