Highlights of the FOMC decision on July 27, 2016
- FOMC leaves fed funds rate in range from 0.25% to 0.50%, as expected
- Near term risks to economic outlook have diminished
- George dissented again in favor of a hike (after removing dissent last month)
- Economic activity has been expanding at a moderate rate
- Near-term risks to the economic outlook have diminished.
- The labor market strengthened
- Household spending has been growing strongly but business fixed investment has been soft
- No change in inflation rhetoric
Some hawkish details at first blush, although there is no timeframe of future action.
