For reference: Here is the March FOMC statement

The March 21, 2018 FOMC statement

Today the Fed will be releasing a new statement at 2 pm ET (1800 GMT). Here is the prior one, with bolding on some of the spots to watch:

Information received since the Federal Open Market Committee met in
January indicates that the labor market has continued to strengthen and
that economic activity has been rising at a moderate rate. Job gains
have been strong in recent months, and the unemployment rate has stayed
low. Recent data suggest that growth rates of household spending and
business fixed investment have moderated from their strong
fourth-quarter readings. On a 12-month basis, both overall inflation and
inflation for items other than food and energy have continued to run
below 2 percent. Market-based measures of inflation compensation have
increased in recent months but remain low; survey-based measures of
longer-term inflation expectations are little changed, on balance.

Consistent with its statutory mandate, the Committee seeks to foster
maximum employment and price stability. The economic outlook has
strengthened in recent months. The Committee expects that, with further
gradual adjustments in the stance of monetary policy, economic activity
will expand at a moderate pace in the medium term and labor market
conditions will remain strong. Inflation on a 12-month basis is expected
to move up in coming months and to stabilize around the Committee’s 2
percent objective over the medium term. Near-term risks to the economic
outlook appear roughly balanced, but the Committee is monitoring
inflation developments closely.

In view of realized and expected labor market conditions and
inflation, the Committee decided to raise the target range for the
federal funds rate to 1-1/2 to 1-3/4 percent. The stance of monetary
policy remains accommodative, thereby supporting strong labor market
conditions and a sustained return to 2 percent inflation.

In determining the timing and size of future adjustments to the
target range for the federal funds rate, the Committee will assess
realized and expected economic conditions relative to its objectives of
maximum employment and 2 percent inflation. This assessment will take
into account a wide range of information, including measures of labor
market conditions, indicators of inflation pressures and inflation
expectations, and readings on financial and international developments.
The Committee will carefully monitor actual and expected inflation
developments relative to its symmetric inflation goal. The Committee
expects that economic conditions will evolve in a manner that will
warrant further gradual increases in the federal funds rate; the federal
funds rate is likely to remain, for some time, below levels that are
expected to prevail in the longer run. However, the actual path of the
federal funds rate will depend on the economic outlook as informed by
incoming data.

Voting for the FOMC monetary policy action were Jerome H. Powell,
Chairman; William C. Dudley, Vice Chairman; Thomas I. Barkin; Raphael W.
Bostic; Lael Brainard; Loretta J. Mester; Randal K. Quarles; and John
C. Williams.