The Fed has concluded, after the conclave held between Wednesday and Thursday of this week, that the "gradual increases" will be constant and will support the expansion of economic activity and labor market conditions.
The monetary authority has indicated that the latest data received shows that the labor market has continued to strengthen and that economic activity has increased at a "strong pace". Likewise, it has indicated that general and core inflation have remained close to 2% in the interannual rate, while inflation expectations have not changed.
"The Committee expects that the next gradual increases in the target range will be consistent with the sustained expansion of economic activity, strong labor market conditions and the medium-term inflation target of 2%," the entity said.
Looking ahead, the FOMC has underlined that the timing and magnitude of upcoming adjustments in the target range of the money price will depend on economic conditions and expectations in relation to its maximum employment goals and maintaining an inflation rate. Of 2%.
The US labor market generated 250,000 new non-agricultural jobs during the month of October and kept the unemployment rate at 3.7% (6.1 million people), the lowest rate since December 1969, according to the data of the Department of Labor of the North American country.
The economy experienced an annualized growth of 3.5% in the third quarter of 2018, seven tenths of a percentage point below the expansion of 4.2% registered in the immediately preceding quarter, according to the first estimate of the data published by the Analysis Office Economic of the United States Government.
On the other hand, the personal consumption expenditure price index, the preferred variable by the Fed to measure inflation, stood in September, the last data available, at 2% compared to last year. The monthly rate stood at 0.1% in the ninth month of the year, in line with the previous month. On the other hand, core inflation, which excludes energy and food prices, given its greater volatility, also stood at 0.1%, while the interannual rate rose by 2%.