Details of the FOMC interest rate decision and statement, June 17, 2015:

  • Fed funds rate left in 0.25% to 0.50% range
  • Labor market slack has 'diminished somewhat'
  • Says economy expanding 'moderately'
  • Job growth picked up
  • Vote was unanimous
  • Repeats risk to economy and job outlooks nearly balanced
  • Survey-based measures of inflation expectations stable
  • Repeats that international developments will be taken into account
  • Market-based measures of inflation compensation remain low
  • Growth in consumer spending moderate, housing improvent
  • Repeats that liftoff hinges on economic progress

Very little to go off here. The market was looking (hoping?) for some kind of hawkish hint but it's a bland statement.