September 16th 2026, 6:00 PM
Federal Reserve Raises Interest Rates to Support Economic Growth
Key Summary
The Federal Reserve has raised the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent in support of its dual mandate to promote economic growth and price stability. The committee also highlighted solid economic activity, strong productivity growth, and robust capital investment, but noted elevated inflation and uncertainty. The move is expected to support a timelier return to the committee's 2 percent inflation goal.
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FOMC Statement Review
The Federal Reserve's Federal Open Market Committee (FOMC) has released its statement following the meeting on September 20, 2023. The committee decided to raise the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent in support of the Federal Reserve's dual mandate.Economic Indicators
The committee highlighted solid economic activity, strong productivity growth, and robust capital investment. Job gains have kept pace with the workforce, and the unemployment rate has changed little. However, inflation remains elevated, and uncertainty remains elevated owing to geopolitical developments.Policy Action
The committee is continuing its policy of maintaining ample reserves in the banking system. The decision to raise the federal funds rate is expected to support a timelier return to the committee's 2 percent inflation goal. The committee will deliver price stability.Media Inquiries
For media inquiries, please email [email protected] or call 202-452-2955.Federal Reserve Overview
The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. The Federal Reserve's dual mandate is to promote maximum employment and price stability.#FederalReserve#US#InterestRates#EconomicGrowth