> FOMC Statement Sep 17, 2025: What Changed
> Source: https://interestratedecision.com/fed/statements/september-2025/ · Content last changed: 2026-11-12
> InterestRateDecision.com: free to quote with a link to the page above.

The FOMC statement of Sep 17, 2025 against the one before it: 30 words added, 11 removed, shown in the Fed's own text.

# FOMC statement, Sep 17, 2025

Set against the statement of Jul 30, 2025: 30 words added, 11 removed, 196 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 about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual ~mandate.~ mandate and judges that downside risks to employment have risen.

In support of its ~goals,~ goals and in light of the shift in the balance of risks, the Committee decided to ~maintain~ lower the target range for the federal funds rate ~at 4-1/4~ by 1/4 percentage point to ~4-1/2~ 4 to 4‑1/4 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. 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 Sep 17, 2025](https://www.federalreserve.gov/newsevents/pressreleases/monetary20250917a.htm). What price did after it: [the rate decision page](https://interestratedecision.com/fed/september-2025/).

[← Jul 30, 2025](https://interestratedecision.com/fed/statements/july-2025/) [Oct 29, 2025 →](https://interestratedecision.com/fed/statements/october-2025/) · [All statements](https://interestratedecision.com/fed/statements/)

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