> FOMC Statement Jan 31, 2024: What Changed
> Source: https://interestratedecision.com/fed/statements/january-2024/ · Content last changed: 2026-11-12
> InterestRateDecision.com: free to quote with a link to the page above.

The FOMC statement of Jan 31, 2024 against the one before it: 78 words added, 95 removed, shown in the Fed's own text.

# FOMC statement, Jan 31, 2024

Set against the statement of Dec 13, 2023: 78 words added, 95 removed, 168 kept. The text is the Fed’s, with no reading of what a change means.

Added ~Removed~ Unmarked words are the same as before.

The ~U.S. banking system is sound and resilient. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The~ Committee ~remains highly attentive to inflation risks.~

~The Committee~ seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks.

In support of ~these~ its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. ~The~ In considering any adjustments to the target range for the federal funds rate, the Committee will ~continue to~ carefully assess ~additional information~ incoming data, the evolving outlook, and ~its implications for monetary policy. In determining~ the ~extent~ balance of ~any additional policy firming that may~ risks. The Committee does not expect it will be appropriate to ~return~ reduce the target range until it has gained greater confidence that inflation ~to~ is moving sustainably toward 2 ~percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.~ percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. 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 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.

Source: [the Federal Reserve’s release of Jan 31, 2024](https://www.federalreserve.gov/newsevents/pressreleases/monetary20240131a.htm).

[← Dec 13, 2023](https://interestratedecision.com/fed/statements/december-2023/) [Mar 20, 2024 →](https://interestratedecision.com/fed/statements/march-2024/) · [All statements](https://interestratedecision.com/fed/statements/)

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