The FOMC released the statement from their January 27th -28th meeting yesterday in which they reaffirmed their view that the economy continues to expand at a solid pace. The committee recognized that labor market conditions have further improved, underutilization of labor resources continues to diminish, and that lower energy prices have added to consumer purchasing power. Along with this fairly optimistic outlook, the Fed acknowledged that inflation has moved further from their targeted 2%; the dip in inflation is largely reflective of the declines in energy prices. The Fed promised to once again remain "patient" in determining when to raise interest rates and consider international economic developments as it recognizes that a stronger dollar may crimp exports. As a whole the minutes were dovish, and they are keeping rates at zero, with the usual caveats of a data dependent Fed.
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