Fed hikes to range of 0.50%-0.75%
Highlights of the statement
Repeats gradual policy path plan Policy supporting 'some further strengthening' on goals Votes were unanimous.
Stance of monetary policy remains accommodative
Inflation has increased since earlier this year
Economy has been expanding at a moderate pace
Market-based measures of inflation have moved up 'considerably' but are still low most survey-based measures of longer-term inflation expectations are little changed
Mxpects conditions to evolve in way that warrants 'only gradual increases' in rates
Officials see three 2017 hikes versus two in Sept dots
Sees slightly higher pace of growth and lower unemployment
Repeats household spending has been 'rising modestly'
Repeats that near-term risks to the economic outlook appear roughly balanced
The statement doesn't offer many clues about what comes next and isn't at all hawkish.
The economic comments are largely unchanged and the rise in market-based inflation is generally brushed off.
The other line that's getting a bit of attention in the statement is that the Fed seems 'some' further strengthening in the in jobs market. That suggests there is only a bit more to go.
More will update soon!!
