On the same day, the Federal Reserve issued a statement after the regular monetary policy meeting, saying that the information since June 165438+ 10 showed that the US economy maintained steady growth, the job market continued to be strong, and the unemployment rate further declined; Residents' consumption maintained moderate growth, and investment in fixed assets of enterprises rebounded in recent quarters. However, since the beginning of this year, the overall inflation rate in the United States has declined, still below the Fed's target of 2%.
The statement said that hurricanes and post-disaster reconstruction activities that hit the Gulf Coast in the southern United States have had an impact on the economy, employment and inflation in recent months, but they have not substantially changed the overall economic growth prospects of the United States. The Fed still expects that the US economy will maintain moderate expansion, the job market will remain strong, and the inflation level will stabilize near the 2% target in the medium term.
The quarterly economic forecast released by the Federal Reserve on the same day shows that the US economy is expected to grow by 2.5% in 20 17, which is higher than the 2.4% forecast in September. By the end of 20 17, the unemployment rate in the United States is expected to be 4. 1%, which is lower than the 4.3% predicted in September. At the same time, the Federal Reserve predicts that the US economy will grow by 2.5% in 20 18, which is higher than the 2. 1% predicted in September. By the end of 20 18, the unemployment rate in the United States is expected to be 3.9%, which is lower than the forecast of 4. 1% in September.
The interest rate forecast released by the Federal Reserve on the same day shows that by the end of 20 18, the median federal funds interest rate will rise to 2. 1%. This means that the Fed expects to raise interest rates three times in 20 18, which is consistent with the forecast in September.
Federal Reserve Chairman Yellen said at a news conference that US economic growth will continue to support the Fed to gradually raise interest rates. This is Yellen's last press conference as chairman of the Federal Reserve. 2065438+At the beginning of February 2008, the current Federal Reserve President Powell will succeed Yellen as the next chairman of the Federal Reserve.
Evans, governor of Chicago Federal Reserve Bank, and Casca, governor of Minneapolis Federal Reserve Bank, voted against it at the monetary policy meeting that day, and they tended to keep the federal funds rate unchanged.
On February 20 15, the Federal Reserve began to raise interest rates for the first time since the 2008 financial crisis, and began the slow process of normalization of monetary policy. Since then, the Federal Reserve raised interest rates three times in February 20 16, March 20 17 and June 20 17, and began to shrink its balance sheet in June 20 17.