#FOMC

*Federal Open Market Committee Statement

The Federal Open Market Committee (FOMC) met today to discuss the current state of the economy and monetary policy.

*Economic Outlook:*

The U.S. economy has continued to grow at a moderate pace, with robust job gains and low unemployment. However, inflation remains below the Committee's 2% target, and global economic growth has slowed.

*Monetary Policy Decision:*

In light of these developments, the Committee decided to:

- Maintain the target range for the federal funds rate at 2.25% to 2.50%.

- Continue implementing monetary policy decisions aimed at promoting maximum employment and price stability

*Outlook and Risks:

The Committee expects the economy to continue growing, supported by solid consumer spending and business investment. However, risks to the outlook include:- Global economic uncertainty- Weakening business confidence- Inflation pressures*Next Steps:*The Committee will continue to monitor economic data and adjust monetary policy as needed to achieve its dual mandate.*Voting ResultsThe vote to maintain the federal funds rate target range was unanimous.

*Next Meeting

The next FOMC meeting is scheduled for November 1-2, 2024.