Highlights of Central Bank Statement
In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.
The FOMC are clearly focused on inflation being returned to 2% therefore the Inflation indicators become significant and even more so when the consensus reflects indifferent or worsening conditions.
The labor market is also a focus and can be traded into when the consensus is indifferent or worsening.