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FOMC Votes To End Asset Purchase Program This Month

FOMC Announcement

The Federal Open Market Committee (FOMC) decided Wednesday to conclude its asset purchase program this month. Regarding the federal funds rate, the committee currently anticipates that it likely will be appropriate to maintain the 0 to 0.25 percent target range for a considerable time following the end of the asset purchase program, especially if projected inflation continues to run below 2 percent and provided that longer-term inflation expectations remain well-anchored.

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From the President

October 2014

"A Mismatch: Close to Macroeconomic Goals, Far from Normal Monetary Policy"

Bullard

In The Regional Economist, St. Louis Fed President James Bullard noted that the Federal Open Market Committee's macroeconomic goals are close to being met, whereas current monetary policy settings are far from normal. While this mismatch is not currently causing macroeconomic problems, he said it may cause problems in the years ahead as the economy continues to expand.

Column

Oct. 2, 2014

"The FOMC: Ahead on Results, Behind on Rates"

With the FOMC's QE3 program coming to an end, St. Louis Fed President James Bullard compared expectations at the time it was launched in September 2012 with actual outcomes. During an event in Tupelo, Miss., he noted that the U.S. economy has outperformed what the FOMC expected two years ago but that the policy rate normalization process remains far behind the schedule laid out at that time. He interprets this as a degree of patience on the part of the FOMC with respect to policy rate liftoff.

Presentation (PDF)

Bio | President's Website

Multimedia

Beige Book Audio

St. Louis Fed economist Rubén Hernández-Murillo discusses current economic conditions in the Eighth District, as published in the Beige Book.

Video Archive | Audio Archive


 

Now Open

Inside the Economy Museum logo

The St. Louis Fed’s Inside the Economy Museum is now open. Immerse yourself in a one-of-a-kind experience that explains the economy through nearly 100 exhibits, games, sculptures and videos. Walk-ins and groups are welcome. Admission is free. Go to the museum website to plan your visit.