The FOMC keeps the target Fed Funds range at 5.25% to 5.50%

<p>The Fed kept rates unchanged at the September 2023 meeting.</p><p>Highlights:</p><ul><li>Target rate 5.25% – 5.5%</li><li>2023 end of year target rate: 5.6%, unchanged from June</li><li>2024 end of year target rate: 5.10% from 4.6% in June</li><li>Economic activity has been growing steadily.</li><li>Job gains have decelerated but remain robust; unemployment is low.</li><li>Inflation is currently high.</li><li>The U.S. banking system is stable and robust.</li><li>Stricter credit conditions may impact economic activity, employment, and inflation.</li><li>The exact impact of these conditions is still uncertain.</li><li>The Committee is highly focused on inflation risks.</li><li>The Committee's goals are maximum employment and a 2% inflation rate over the long term.</li><li>The target range for the federal funds rate is set at 5-1/4 to 5-1/2 percent.</li><li>The Committee will evaluate further information and its implications for monetary policy.</li><li>Factors considered for policy adjustments include the overall tightening of monetary policy, its delayed effects on the economy, and other economic and financial events.</li><li>The Committee plans to reduce its holdings of Treasury securities and other agency debts and securities.</li><li>The primary aim is to bring inflation back to the 2% target.</li><li>The Committee will keep assessing the economic outlook based on incoming data.</li><li>If risks arise that could hinder the Committee's objectives, they are ready to modify the monetary policy stance.</li><li>Their evaluations will consider various data, including labor market stats, inflation trends, financial, and global events.</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.