Recognizing a slowing U.S. economy and a slowdown in consumer and commercial spending/investments, the FOMC held rates steady.  The Press Release also recognized a still strong labor market and a decline in nominal inflation due to energy prices but the core inflation rate remains near its 2% objective.

The Press Release continues to affirm FOMC’s data dependent stance in its future fed funds target range adjustment.

Here is our language comparison to the January 2019 press release.