Says apart from hurricane effect, inflation to remain somewhat below 2 pct in near term, to stabilize around 2 pct goal over medium term

Inflation to rise temporarily in aftermath of hurricanes

Recent storms will affect near-term economic activity but unlikely to alter course over medium term

Says to start shrinking balance sheet in october following schedule it laid out in july

Job gains have remained solid, household spending expanding at moderate rate

Repeats near-term risks to the economy appear "roughly balanced," fed monitoring inflation closely