美聯儲於2025年9月16日至17日召開的聯邦公開市場委員會（FOMC）會議紀要顯示，美國上半年實質GDP增速放緩，勞動力市場趨弱，核心PCE通脹維持在年內高點。多數與會官員認為，在此當前背景下採取適度寬鬆政策較為合適，並預期年內可能進一步降息。多數成員強調，通脹上行風險依舊存在，但就業下行風險有所增加。委員會將持續推進縮表進程，預計至2026年第一季，銀行體系準備金餘額將降至約2.8萬億美元。

Minutes from the Federal Open Market Committee (FOMC) meeting held by the Federal Reserve on September 16-17, 2025, show that U.S. real GDP growth slowed in the first half of the year, the labor market softened, and core PCE inflation remained at a yearly high. Most participating officials believed that moderate easing was appropriate under the current context and expected further interest rate cuts might be possible within the year. The majority of members emphasized that upside risks to inflation still exist, while downside risks to employment have increased. The Committee will continue to advance the balance sheet reduction process, and it is expected that by the first quarter of 2026, the reserve balance of the banking system will drop to approximately $2.8 trillion.