Federal Reserve issues FOMC statement

… </ul> </li> </ul> </div> <div class="col-xs-12 col-sm-4 col-md-4 hidden-sm"></div> <div class="col-xs-12 col-sm-8 col-md-8"> <p>The Federal Open Market Committee approved the following statement for release by a 9 – 3 vote:</p> <p>The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve's dual mandate. The Committee is continuing its policy of maintaining ample reserves in the banking system.</p> <p>Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East. Productivity growth and capital investment are strong. Job gains have kept pace with the workforce, and the unemployment rate has changed little.</p> …