- Expects to maintain highly accomodative stance for monetary policy to support stronger recovery
- Economy expanding moderately, notwithstanding slowing in global growth
- Some indicators show further improvement in labor markets, but jobless rate remains elevated
- Strains in global financial markets continue to pose significant downside risks to outlook
- Anticipates inflation will run at levels at or below those consistent with mandate
- Household spending still rising, but business investment has slowed, housing sector still depressed
- To continue program to extend average maturity of holdings
- Vote in favour of policy was 9-1; Lacker dissented, preferred to omit description of time period
- To maintain policy of reinvesting principal from mortgage related debt, roll over maturing treasuries
- To regularly review size, composition of balance sheet, is prepared to adjust as appropriate
- Inflation has been subdued in recent months, longer term inflation expectations have remained stable
- Keeps target for Fed funds rate at zero to 0.25%
Reuters reporting.
Dovish fare indeed. Dollar has weakened in wake of news. EUR/USD up over 1.3000 post release presently at 1.3025.
