Federal Reserve rate decision: No change to the Fed funds target, as expected

Fed funds target unchanged at 3.50-3.75%, as expected
Vote was unanimous
Statement says economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East
Productivity growth and capital investment are strong
Job gains have kept pace with the workforce, and the unemployment rate has changed little
Inflation remains elevated relative to the Committee's 2 percent goal, in part reflecting supply shocks that have driven price increases in certain sectors, including energy
The Committee will deliver price stability.

The statement was very short compared to recent history.

Nine officials now see a rate hike this year and five see two hikes. Eight project the Fed hold and Miran continues to see a cut but didn't dissent.

This article was written by Adam Button at investinglive.com.