The Federal Reserve said it would remain “patient” on raising rates, but indicated it saw the U.S. economy getting stronger.
The Federal Open Market Committee released its statement Wednesday afternoon. In a unanimous vote, the FOMC said that “the Committee judges that it can be patient in beginning to normalize the stance of monetary policy.” That language was the same as the previous month’s statement.
The statement completely dropped “considerable time” from its language on tightening. The Fed also said it has seen inflation decline, and it may decline further. It also said that inflation should increase over the medium term as the labor market improved and the temporary effects of low energy prices fade.
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