Federal Reserve FOMC statement: Q3 economy strong, will assess degree of further tightening policies.

BlockBeats news on November 2nd, the Federal Reserve stated in its FOMC statement that recent indicators suggest that economic activity expanded at a strong pace in the third quarter. The U.S. banking system is sound and resilient. Tightening financial and credit conditions for households and businesses could put pressure on economic activity, employment, and inflation, the extent of which remains uncertain, and the Committee remains highly attentive to inflation risks. The Committee will continue to reduce its holdings of Treasury securities, agency debt, and agency mortgage-backed securities, steadfastly committed to achieving its 2% inflation target. The Committee will be prepared to adjust its monetary policy stance as appropriate if risks emerge that could impede the achievement of the Committee's goals. The assessment will take into account a wide range of information, including the labor market conditions, inflation pressures and expectations, as well as developments in financial and international situations.