可用指標(biāo)顯示，經(jīng)濟(jì)活動(dòng)以溫和的速度擴(kuò)張。今年以來就業(yè)增長放緩，失業(yè)率略有上升，但截至八月仍保持在較低水平；更近期的指標(biāo)與上述趨勢一致。通脹較年初有所上升，仍處于相對高位。
委員會(huì)的目標(biāo)是實(shí)現(xiàn)最大就業(yè)和長期2%的通脹。經(jīng)濟(jì)前景的不確定性依然較高。委員會(huì)密切關(guān)注其雙重使命兩方面的風(fēng)險(xiǎn)，并認(rèn)為近幾個(gè)月就業(yè)方面的下行風(fēng)險(xiǎn)有所上升。為支持上述目標(biāo)，并考慮到風(fēng)險(xiǎn)平衡的變化，委員會(huì)決定將聯(lián)邦基金利率目標(biāo)區(qū)間下調(diào)25個(gè)基點(diǎn)至3.75%至4%。在考慮對聯(lián)邦基金利率目標(biāo)區(qū)間進(jìn)行進(jìn)一步調(diào)整時(shí)，委員會(huì)將認(rèn)真評估最新數(shù)據(jù)、經(jīng)濟(jì)前景的變化以及風(fēng)險(xiǎn)平衡。委員會(huì)還決定自12月1日起結(jié)束其持有證券總量的縮減。委員會(huì)堅(jiān)定致力于支持最大就業(yè)，并推動(dòng)通脹回到2%的目標(biāo)水平。
在評估適當(dāng)?shù)呢泿耪吡鰰r(shí)，委員會(huì)將繼續(xù)監(jiān)測新信息對經(jīng)濟(jì)前景的影響。如果出現(xiàn)可能阻礙實(shí)現(xiàn)委員會(huì)目標(biāo)的風(fēng)險(xiǎn)，委員會(huì)將酌情調(diào)整貨幣政策立場。委員會(huì)的評估將考慮廣泛的信息，包括勞動(dòng)力市場狀況、通脹壓力和通脹預(yù)期，以及金融和國際發(fā)展的最新情況。
投票贊成貨幣政策決議的委員包括：FOMC主席鮑威爾；FOMC副主席威廉姆斯；美聯(lián)儲(chǔ)理事巴爾；美聯(lián)儲(chǔ)理事鮑曼；芝加哥聯(lián)儲(chǔ)主席古爾斯比；波士頓聯(lián)儲(chǔ)主席柯林斯；美聯(lián)儲(chǔ)理事庫克；美聯(lián)儲(chǔ)副主席杰斐遜；圣路易斯聯(lián)儲(chǔ)主席穆薩萊姆；美聯(lián)儲(chǔ)理事沃勒。
投票反對貨幣政策決議的委員包括：美聯(lián)儲(chǔ)理事米蘭，支持降息50個(gè)基點(diǎn)。美聯(lián)儲(chǔ)施密德反對降息，支持維持利率不變。
Available indicators suggest that economic activity has been expanding at a moderate pace. Job gains have slowed this year, and the unemployment rate has edged up but remained low through August; more recent indicators are consistent with these developments. Inflation has moved up since earlier in the year and remains somewhat elevated.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate and judges that downside risks to employment rose in recent months.
In support of its goals and in light of the shift in the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent. In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee decided to conclude the reduction of its aggregate securities holdings on December 1. The Committee is strongly committed to supporting maximum employment and 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 outlook. The 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 labor market conditions, inflation pressures and inflation expectations, and financial and international developments.
Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Susan M. Collins; Lisa D. Cook; Austan D. Goolsbee; Philip N. Jefferson; Alberto G. Musalem; and Christopher J. Waller. Voting against this action were Stephen I. Miran, who preferred to lower the target range for the federal funds rate by 1/2 percentage point at this meeting, and Jeffrey R. Schmid, who preferred no change to the target range for the federal funds rate at this meeting.
