Publication - Minutes of the Federal Open Market Committee, January 31-February 1, 2017
Staff Review of the Economic Situation
The information reviewed for the January 31–February 1 meeting indicated that real gross domestic product (GDP) expanded at a moderate rate in the fourth quarter of last year and that labor market conditions continued to strengthen. Consumer price inflation rose further above the slow pace seen during the first half of last year, but it was still running below the Committee’s longerrun objective of 2 percent.





