FOMC statement of June 13, 2018
This statement of the Federal Open Market Committee, compared sentence by sentence with the scheduled statement before it: what changed in the text, and how the Committee voted.
In short
The Federal Open Market Committee released this statement on June 13, 2018. Compared with the previous scheduled statement of May 2, 2018: 6 sentences changed, 1 was added, 5 were removed, and 5 stayed the same. In words: 57 added, 157 removed. The vote on this statement: Unanimous. On the May 2, 2018 statement: Unanimous.
FOMC statement · June 13, 2018
Changed sentences against the previous scheduled statement (May 2, 2018)
5 unchanged · 6 changed · 1 added · 5 removed · words +57 / −157
- May 2, 2018
- Unanimous.
- June 13, 2018
- Unanimous.
Information received since the Federal Open Market Committee met in March May indicates that the labor market has continued to strengthen and that economic activity has been rising at a moderate solid rate.
Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low declined.
Recent data suggest that growth of household spending moderated from its strong fourth-quarter pace has picked up, while business fixed investment has continued to grow strongly.
Market-based measures of inflation compensation remain low; survey-based measures Indicators of longer-term inflation expectations are little changed, on balance.
The Committee expects that, with further gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace in the medium term and labor market conditions will remain strong.
Inflation on a 12-month basis is expected to run near the Committee's symmetric 2 percent objective over the medium term.
The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective over the medium term.
In view of realized and expected labor market conditions and inflation, the Committee decided to maintain raise the target range for the federal funds rate at 1-1/2 to 1-3/4 to 2 percent.
In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its objectives of maximum employment objective and its symmetric 2 percent inflation objective.
The Committee will carefully monitor actual and expected inflation developments relative to its symmetric inflation goal.
The Committee expects that economic conditions will evolve in a manner that will warrant further gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run.
However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.
Show the 5 unchanged sentences
On a 12-month basis, both overall inflation and inflation for items other than food and energy have moved close to 2 percent.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.
Risks to the economic outlook appear roughly balanced.
The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.
This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.
Source: Board of Governors of the Federal Reserve System — the statement on federalreserve.gov · May 2, 2018
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The page sets this statement of the Federal Open Market Committee next to the scheduled statement before it, sentence by sentence. The Fed’s sentences are shown as published, in English.
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