Federal Reserve issues FOMC statement

The record

Publisher

Federal Reserve Board

Agency

Federal Open Market Committee

Source

Federal Reserve Board

Kind

Release

Jurisdiction

United States

Topics

Monetary policy

Importance

Headline, the top of three tiers Kresmion sets by fixed rules from the source's own fields

Published (source time)

2020-09-16 18:00 UTC

First seen on Kresmion

2026-10-27 00:06 UTC, 2231 days after publication

The original

Source: Board of Governors of the Federal Reserve System (federalreserve.gov). Public domain.

What changed

FOMC statement, meeting of Sep 16, 2020

What changed since Jul 29, 202049.9% of words changed197 words removed, 298 added

removedadded

• ... employment and price stability goals. The removed: coronavirus outbreak added: COVID-19 pandemic is causing tremendous human and economic ...
• ... United States and around the world. removed: Following sharp declines, economic added: Economic activity and employment have picked up removed: somewhat in recent months but remain well ...
• ... The ongoing public health crisis will added: continue to weigh removed: heavily on economic activity, employment, and inflation ...
• ... economic outlook over the medium term. removed: In light added: The Committee seeks to achieve maximum employment and inflation at the rate of added: 2 percent over the longer run. With inflation running persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer-term inflation expectations remain well anchored at 2 percent. The Committee expects to maintain an accommodative stance of monetary policy until these removed: developments, the added: outcomes are achieved. The Committee decided to removed: maintain added: keep the target range for the federal funds rate at 0 to 1/4 removed: percent. The Committee added: percent and expects added: it will be appropriate to maintain this target range until removed: it is confident that added: labor market conditions have reached levels consistent with the removed: economy added: Committee's assessments of maximum employment and inflation has removed: weathered recent events added: risen to 2 percent and is on track to removed: achieve its maximum employment and price stability goals. The Committee will continue to monitor the implications of incoming information for the economic outlook, including information related to public health, as well as global developments and muted inflation pressures, and will use its tools and act as appropriate to support the economy. In determining the timing and size of future adjustments to the stance of monetary policy, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric added: moderately exceed 2 percent removed: 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. To support the flow of credit to households and businesses, added: for some time. In addition, over coming months the Federal Reserve ...
• ... holdings of Treasury securities and agency removed: residential and commercial mortgage-backed securities at least at the current pace to sustain smooth market removed: functioning, added: functioning and help foster accommodative financial conditions, thereby removed: fostering effective transmission added: supporting the flow of credit to households and businesses. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy removed: to broader added: as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial removed: conditions. In addition, the Open Market Desk will continue to offer large-scale overnight and removed: term repurchase agreement operations. The Committee will closely monitor developments and is prepared to adjust its plans as appropriate. added: international developments. Voting for the monetary policy action ...
• ... Brainard; Richard H. Clarida; Patrick Harker; removed: Robert S. Kaplan; Neel Kashkari; Loretta J. Mester; and Randal K. Quarles. added: Voting against the action were Robert S. Kaplan, who expects that it will be appropriate to maintain the current target range until the Committee is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals as articulated in its new policy strategy statement, but prefers that the Committee retain greater policy rate flexibility beyond that point; and Neel Kashkari, who prefers that the Committee indicate that it expects to maintain the current target range until core inflation has reached 2 percent on a sustained basis.

Kresmion's comparison of the two published texts: a word-by-word diff of the Federal Reserve's statement of Sep 16, 2020 against its statement of Jul 29, 2020, computed by Kresmion, not by the Federal Reserve.

Source: Board of Governors of the Federal Reserve System (federalreserve.gov). Public domain.

• The previous statement, Jul 29, 2020