Federal Reserve issues FOMC statement - Federal Reserve Board (.gov)

The FOMC noted that economic activity is expanding at a solid pace and emphasized monitoring incoming data on jobs and inflation. Kashkari’s public change in outlook—now expecting one rate increase this year—underscores how regional Fed officials are interpreting that incoming data and inflation signals. His stance suggests some policymakers see a need to tighten if inflation remains elevated, even as the Committee maintains a data-dependent approach.