For reference: Here was the November FOMC statement

On November 7, the FOMC cut rates by 25 basis points and released this statement:

Recent indicators suggest that economic activity has continued to
expand at a solid pace. Since earlier in the year, labor market
conditions have generally eased, and the unemployment rate has moved up
but remains low. Inflation has made progress toward the Committee’s 2
percent objective but remains somewhat elevated.

The Committee seeks to achieve maximum employment and inflation at
the rate of 2 percent over the longer run. The Committee judges that the
risks to achieving its employment and inflation goals are roughly in
balance. The economic outlook is uncertain, and the Committee is
attentive to the risks to both sides of its dual mandate.

In support of its goals, the Committee decided to lower the target
range for the federal funds rate by 1/4 percentage point to 4-1/2 to
4-3/4 percent. In considering additional adjustments to the target range
for the federal funds rate, the Committee will carefully assess
incoming data, the evolving outlook, and the balance of risks. The
Committee will continue reducing its holdings of Treasury securities and
agency debt and agency mortgage‑backed securities. The Committee is
strongly committed to supporting maximum employment and returning
inflation to its 2 percent objective.

In assessing the appropriate stance of monetary policy, the Committee
will continue to monitor the implications of incoming information for
the economic outlook. The Committee would be prepared to adjust the
stance of monetary policy as appropriate if risks emerge that could
impede the attainment of the Committee’s goals. The Committee’s
assessments will take into account a wide range of information,
including readings on labor market conditions, inflation pressures and
inflation expectations, and financial and international developments.

Voting for the monetary policy action were Jerome H. Powell, Chair;
John C. Williams, Vice Chair; Thomas I. Barkin; Michael S. Barr; Raphael
W. Bostic; Michelle W. Bowman; Lisa D. Cook; Mary C. Daly; Beth M.
Hammack; Philip N. Jefferson; Adriana D. Kugler; and Christopher J.
Waller.

I wouldn’t be surprised if the changes to that statement are minimal but the market will also be closely watching the dot plot and central tendencies for changes from the prior.

This article was written by Adam Button at www.forexlive.com.