The Fed: Text of July FOMC statement

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Federal Reserve Chairwoman Janet Yellen and her colleagues are still thinking about the appropriate time to raise U.S. interest rates and September appears back on the table. They voted Wednesday to leave rates unchanged at already low levels.

Information received since the Federal Open Market Committee met in June indicates that the labor market strengthened and that economic activity has been expanding at a moderate rate. Job gains were strong in June following weak growth in May. On balance, payrolls and other labor market indicators point to some increase in labor utilization in recent months. Household spending has been growing strongly but business fixed investment has been soft.

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