In their statement on Wednesday, Fed officials said the overall inflation rate and the rate that excludes volatile food and energy prices both “remain near 2 percent,” which is the Fed’s target level. Economic growth clocked in above a 4 percent rate for the second quarter, and inflation ran slightly above 2 percent. So there was no direct response to Mr. Trump, who has broken recent protocol and publicly criticized the Fed’s path of rate increases, worrying that they will dampen a strong economic run. Here are four takeaways from Wednesday’s Fed statement:The economy is running hot, but inflation fears remain contained. The statement acknowledged that acceleration but expressed no concern over it.

Source: New York Times August 01, 2018 09:00 UTC