Interest rates left unchanged: Full text of US Federal Reserve meeting

Said, 'Hurricanes Harvey, Irma, and Maria inflicted severe hardship, but past experience suggests storms unlikely to materially alter course of national economy over medium term'

The US Federal Reserve left interest rates unchanged on Wednesday but signalled it still expects one more increase by the end of the year despite a recent bout of low inflation.

The Fed, as expected, also said it would begin in October to reduce its approximately $4.2 trillion in holdings of US Treasury bonds and mortgage-backed securities acquired in the years after the 2008 financial crisis.

Here is the full statement of the Federal Open Market Committee:

Information received since the Federal Open Market Committee met in July indicates that the labor market has continued to strengthen and that economic