Approaching The Tipping Point : FOMC Considers When – How Much – To Raise Rates

The Federal Reserve maintained its pledge to be “patient” on raising interest rates and boosted its outlook of the economy, even as it said inflation will decline further. “Economic activity has been expanding at a solid pace,” the Federal Open Market Committee (FOMC) said recently after a two-day meeting in Washington. “Labor market conditions have improved further, with strong job gains and a lower unemployment rate.” Policymakers said inflation “is anticipated to decline further in the near term,” adding that price gains are likely to “rise gradually toward 2 percent over the medium term” as transitory effects of low energy prices dissipate.

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