> FOMC Statement May 7, 2025: What Changed
> Source: https://interestratedecision.com/fed/statements/may-2025/ · Content last changed: 2026-11-12
> InterestRateDecision.com: free to quote with a link to the page above.

The FOMC statement of May 7, 2025 against the one before it: 17 words added, 51 removed, shown in the Fed's own text.

# FOMC statement, May 7, 2025

Set against the statement of Mar 19, 2025: 17 words added, 51 removed, 204 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 Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty ~around~ about the economic outlook has ~increased.~ increased further. The Committee is attentive to the risks to both sides of its dual ~mandate.~ mandate and judges that the risks of higher unemployment and higher inflation have risen.

In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent. In considering the extent and timing of 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 will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. ~Beginning in April, the Committee will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $25 billion to $5 billion.~ The Committee ~will maintain the monthly redemption cap on agency debt and agency mortgage-backed securities at $35 billion. 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.

Source: [the Federal Reserve’s release of May 7, 2025](https://www.federalreserve.gov/newsevents/pressreleases/monetary20250507a.htm). What price did after it: [the rate decision page](https://interestratedecision.com/fed/may-2025/).

[← Mar 19, 2025](https://interestratedecision.com/fed/statements/march-2025/) [Jun 18, 2025 →](https://interestratedecision.com/fed/statements/june-2025/) · [All statements](https://interestratedecision.com/fed/statements/)

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