As a result, cost pressures should be contained, inflation expectations should continue to be stable, and inflation is likely to remain subdued. In the current environment, the FOMC continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period.
Such policy accommodation is warranted to provide support for a return over time to more desirable levels of real activity and unemployment in the context of price stability. In addition, the Federal Reserve is committed to continue working with banks and bank holding companies to facilitate the flow of credit to consumers and businesses.