13 In particular, we expect that it will be appropriate to maintain the current accommodative target range of the federal funds rate until labor market conditions have reached levels consistent with maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.
In addition, we will continue to increase our holdings of Treasury securities and agency mortgage-backed securities by $ billion and $ billion per month, respectively, until substantial further progress has been made toward our maximum-employment and price-stability goals.