For reference: Here is the previous FOMC statement

<p>I always like to read the prior statement one more time before the FOMC decision, which is at the top of the hour.</p><p>Federal Reserve issues FOMC statement</p><p>ecent indicators suggest that economic activity has continued to
expand at a modest pace. Job gains have been robust in recent months,
and the unemployment rate has remained low. Inflation remains elevated.</p><p>The U.S. banking system is sound and resilient. Tighter credit
conditions for households and businesses are likely to weigh on economic
activity, hiring, and inflation. The extent of these effects remains
uncertain. The Committee remains highly attentive to inflation risks.</p><p>The Committee seeks to achieve maximum employment and inflation at
the rate of 2 percent over the longer run. In support of these goals,
the Committee decided to maintain the target range for the federal funds
rate at 5 to 5-1/4 percent. Holding the target range steady at this
meeting allows the Committee to assess additional information and its
implications for monetary policy. In determining the extent of
additional policy firming that may be appropriate to return inflation to
2 percent over time, the Committee will take into account the
cumulative tightening of monetary policy, the lags with which monetary
policy affects economic activity and inflation, and economic and
financial developments. In addition, the Committee will continue
reducing its holdings of Treasury securities and agency debt and agency
mortgage-backed securities, as described in its previously announced
plans. The Committee is strongly committed to returning inflation to its
2 percent objective.</p><p>In assessing the appropriate stance of monetary policy, the Committee
will continue to monitor the implications of incoming information for
the economic outlook. The Committee would be prepared to adjust the
stance of monetary policy as appropriate if risks emerge that could
impede the attainment of the Committee's goals. The Committee's
assessments will take into account a wide range of information,
including readings on labor market conditions, inflation pressures and
inflation expectations, and financial and international developments.</p><p>Voting for the monetary policy action were Jerome H. Powell, Chair;
John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Lisa
D. Cook; Austan D. Goolsbee; Patrick Harker; Philip N. Jefferson; Neel
Kashkari; Lorie K. Logan; and Christopher J. Waller.</p>

This article was written by Adam Button at www.forexlive.com.