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This action supports the Committee’s view that sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective are the most likely outcomes, but uncertainties about this outlook remain.”
Uncertainty on the trade front and mixed reports on U.S. manufacturing are still key concerns going forward. As per policyuncertainty.com, the trade policy uncertainty index has been climbing higher lately:
On a positive note, the latest report on U.S. industrial production came in better than expected for August. The Fed reported last week that U.S. industrial output increased 0.6% in August following a 0.1% contraction in July as manufacturing output rose 0.5%, utilities output increased 0.6%, and mine production rebounded 1.4%. Of note, the Fed reports that the U.S. manufacturing capacity utilization rate improved to 75.7% last month as the total industry utilization rate increased to 77.9%.