However, it is true that the price stability target of 2 percent has not been achieved yet, unfortunately, despite the unprecedented large-scale monetary easing.
The observations I've just shared illustrate the evolving economic forces that the Federal Open Market Committee (FOMC) will consider as it makes monetary policy decisions over the remainder of the year. The FOMC has raised the target federal funds rate 25 basis points at each of the past fifteen meetings over roughly two years.