British News Agency

In its statement, the Fed noted that while fluctuations in net exports continue to affect the data, recent indicators show that economic activity growth slowed in the first half of the year.

The statement added that the unemployment rate remains low, labor market conditions remain strong, and inflation is somewhat elevated.

The statement said the committee aims to achieve maximum employment and 2% inflation in the long run, and added: “Uncertainty around the economic outlook remains high. The Committee is aware of risks on both sides of its dual mandate.”

To support its goals, the committee decided to keep the target range for the federal funds rate at 4.25% to 4.50%, and stated:

“When considering the extent and timing of any additional adjustments to the target range, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee will continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities. The Committee remains committed to supporting maximum employment and returning inflation to its 2 percent target.”

The statement emphasized that the committee will continue to monitor the effects of incoming information on the economic outlook in evaluating the appropriate stance of monetary policy.