Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% and responds to questions in the post-meeting press conference.
Key quotes Our economy has made considerable progress. Continued strong job gains in the economy. Inflation has eased substantially but it's still too high. We are maintaining a restrictive stance to keep demand in line with supply. Recent indicators suggest economic growth still expanding at solid pace. Private domestic final purchases, a clearer signal, is still strong. Consumer spending remains solid. Investment in equipment has picked up from an anemic pace.
This results in a stronger US Dollar as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback. How often does the Fed hold monetary policy meetings? The Federal Reserve holds eight policy meetings a year, where the Federal Open Market Committee assesses economic conditions and makes monetary policy decisions.
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