The statement indicates that the Committee seeks to mitigate deviations of inflation from 2 percent and deviations  10  See Cajner and others (2017) for a careful examination of how labor market differentials by race and ethnicity have evolved over time.
More recently, the scope of this facility has been expanded with the decision on 18 September to start providing USD funding to European counterparties also on an overnight basis and to increase the amounts offered in the existing operations at longer maturities (28- and 84-days).