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FOMC Says Current Fed Funds Rate Target Remains Appropriate

FOMC Announcement

On Wednesday, the Federal Open Market Committee (FOMC) reaffirmed that the current federal funds rate target range (0 to 0.25 percent) remains appropriate. Based on the committee’s current assessment of progress toward maximum employment and 2 percent inflation, the FOMC judges that it can be patient in beginning to normalize the stance of monetary policy, according to the statement released.

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From the President

Nov. 14, 2014

"Does Low Inflation Justify a Zero Policy Rate?"

Bullard

St. Louis Fed President James Bullard discussed whether current macroeconomic data can rationalize the exceptionally low setting for the policy rate. During an event in St. Louis, he said that inflation at the current level is not enough to justify remaining at the zero lower bound. He added that low inflation can justify a policy rate somewhat lower than normal, but not zero.

News Release | Presentation (PDF)

October 2014

"A Commitment to Serving the Public"

In the St. Louis Fed's centennial commemorative report, President James Bullard noted that the decentralized, regional structure of the Federal Reserve System has been an important aspect of its design over the past 100 years. For example, the structure allows input from around the country for important policy decisions. He also discussed what he sees for the Fed's next 100 years as well as his vision for the St. Louis Fed.

President's Message

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.