The Federal Open Market Committee will meet again this week, with the group's Forecasts scheduled for release on Wednesday at 2 p.m. ET, and Fed Chair Jerome Powell's press conference scheduled thereafter at 2:30 p.m. ET on Wednesday.
The previous meeting, on August 1, noted the strong job growth and low unemployment rate. Additionally the Federal Reserve voted unanimously to maintain the interest rate paid on required and excess reserve balances at 1.95 percent.
“In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1-3/4 to 2 percent,” the Fed said in a statement after the meeting. “The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.”
The Federal Reserve noted that its adjustments for inflation take employment levels into account.
“In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.”
Here's what else is happening in The Week Ahead.
- FHFA House Price Index, Tuesday, 9 a.m. ET
- S&P CoreLogic Case Shiller HPI, Tuesday, 9 a.m. ET
- MBA Mortgage Apps, Wednesday, 7 a.m. ET
- Pending Home Sales Index, Thursday, 10 a.m. ET