FOMC minutes: Indicators of longer-term inflation expectations are little changed, on balance

The minutes from the Federal Reserve’s June 12-13 meeting monetary policy meeting have been published, revealing that the indicators of longer-term inflation expectations were  little changed, and remained on balance.

Key quotes (via Reuters)

• Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.  
• The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective over the medium term.  
• 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.

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About the FOMC minutes

FOMC stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. FOMC Minutes are released by the Board of Governors of the Federal Reserve and are a clear guide to the future US interest rate policy.