At its 26 January meeting, the Federal Open Market Committee (FOMC) decided to uphold its current policy stance. According to the statement, the Fed will ?continue expanding its holdings of securities as announced in November?. The Committee reaffirmed its pledge to purchase USD 600 billion of longer-term Treasury bonds until the first half of 2011. In a decision widely expected by the market, the FOMC also decided to keep the federal funds rate within the historically low range of 0% to 0.25% set in December 2008. In the statement, Committee members confirmed that the recovery remains entrenched, albeit without the required strength to reduce unemployment significantly, a key factor constraining household spending. Moreover, inflation remains somewhat low relative to levels that the FOMC judges to be consistent with its long-run dual mandate, supporting the decision to leave the federal funds rate at ?exceptionally low levels for an extended period?.
United States Monetary Policy
Fed maintains monetary policy stance
January 26, 2011
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United States Economic News
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