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Economy in Brief

FOMC Leaves Fed Funds Rate Unchanged; Inflation Measures Strengthen
by Tom Moeller  November 2, 2016

At today's meeting of the Federal Open Market Committee, the fed funds rate was left unchanged in the range of 0.25%-0.50%, as expected.

The meeting minutes continued to focus on price inflation. Overall inflation has remained below the Fed's two percent objective, due to declines in energy & non-energy import prices. The recent strengthening in the core PCE price index suggests, however, that inflation remains a major issue for future policy debate.

Labor market strengthening with "solid" job gains was noted, while growth in overall economic activity picked up. Business fixed investment has been "soft."

Risks to the economic outlook appear to be evenly balanced.

The press release for today's FOMC meeting can be found here.

Haver's SURVEYS database contains the economic projections from the Federal Reserve Board.

One Equation to Understand the Current Monetary Policy Debate from James Bullard, President & CEO, Federal Reserve Bank of St. Louis can be found here.

Current Last 2015 2014 2013 2012
Federal Funds Rate, % (Target) 0.25-0.50 0.25-0.50 0.13 0.09 0.11 0.14
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