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 12 – 0 vote:</p> <p>The Committee decided to raise the target range for the federal funds rate by 1/4 percentage point<strong> </strong>to 3-3/4<strong> </strong>to 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. While uncertainty remains elevated owing, in part, to geopolitical developments,<strong> </strong>domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little.</p> …