The Federal Open Market Committee left its previous policies intact, but sounded slightly more upbeat about the economy in a statement released this afternoon. Of the 10 commissioners, Charles Evans was the only one advocating for more aggressive policy; the others voted to keep current policies.
Stocks fell slightly after the release, but the major indexes remain higher for the day.
The Fed statement indicated that the group feels like the economy is getting slightly better:
“Information received since the Federal Open Market Committee met in November suggests that the economy has been expanding moderately, notwithstanding some apparent slowing in global growth. While indicators point to some improvement in overall labor market conditions, the unemployment rate remains elevated. Household spending has continued to advance, but business fixed investment appears to be increasing less rapidly and the housing sector remains depressed. Inflation has moderated since earlier in the year, and longer-term inflation expectations have remained stable.”
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