FOMC minutes: Central bank can 'afford to be patient'

Economy 1/9/2019, 8:03 PM
FOMC minutes: Central bank can 'afford to be patient'

Federal Open Market Committee’s (FOMC) minutes from its December meeting showed on Wednesday that the central bankers agree that the Federal Reserve "can afford to be patient" when it comes to the United States' monetary policy, mostly concerning further policy tightening measures due to the muted inflation pressures. According to the release, Fed officials agreed that there is room for gradual rate increases in 2019.

"The Committee judged that some further gradual increases in the target range for the fed funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2pct objective over the medium term," the minutes stated.

However, the timing of the Fed's next interest rate remains "less clear," according to the release. The committee's next policy two-day meeting is due to start on January 29.

Breaking the News / VK