the nation with a safe, flexible, and stable monetary and financial.
Federal Open Market Committee.
Monetary Policy Principles and Practice.
Policy Implementation.
Review of Monetary Policy Strategy, Tools, and.
Financial Stability Assessments
Financial Stability Coordination & Actions
Financial Market Utilities & Infrastructures
Financial Accounts
Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures
The war and related events are creating additional upward pressure on inflation and are weighing on global economic activity
The Committee is highly attentive to inflation risks
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer runIn support of these goals, the Committee decided to raise the target range for the federal funds rate to 3 to 3-1/4 percent and anticipates that ongoing increases in the target range will be appropriate
In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in the Plans for Reducing the Size of the Federal Reserve's Balance Sheet that were issued in May
The Committee is strongly committed to returning inflation to its 2 percent objective
In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlookThe Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals
The Committee's assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial and international developments
Voting for the monetary policy action were Jerome HBoard of Governors of the Federal Reserve System