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Highlights of the January 31, 2018 FOMC interest rate decision

  • Rates remain in the 1.25%-1.50% range
  • Economy to ‘warrant further gradual increases’ in rates
  • Drops line saying inflation will remain below 2% in near term
  • Says inflation on a 12-month basis expected to move up this year
  • Market-based measures of inflation compensation have increased in recent months but remains low
  • Overall inflation and core inflation continued to run below 2%
  • Unanimous decision
  • Repeats that near-term risks remain roughly balanced
  • Full text

“The Committee expects that economic conditions will evolve in a manner
that will warrant further gradual increases in the federal funds rate,” the statement said. The word ‘further’ was added compared to the prior statement.

Does it mean anything? If anything, it’s a bit more hawkish but only a tiny bit and given the commentary from before the statement, it’s not as hawkish as feared/speculated.

Speaking of further:



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