In their statement on Wednesday, Fed officials said the overall inflation rate and the rate that excludes volatile food and energy prices both “remain near 2 percent,” which is the Fed’s target level. In June, officials said those rates “have moved close to 2 percent.”

In keeping with previous statements, officials continued to signal they will raise rates again soon, saying they expect “that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions and inflation near the committee’s symmetric 2 percent objective over the medium term.”

The slight changes reflect improving economic data in recent weeks. Economic growth clocked in above a 4 percent rate for the second quarter, and inflation ran slightly above 2 percent.

The statement did not come with an updated set of economic forecasts issued after the meeting or a question-and-answer session with Mr. Powell, who gives quarterly news conferences now but has chosen to pick up the pace next year and brief reporters after every Fed meeting. So there was no direct response to Mr. Trump, who has broken recent protocol and publicly criticized the Fed’s path of rate increases, worrying that they will dampen a strong economic run.

Here are four takeaways from Wednesday’s Fed statement:

The economy is running hot, but inflation fears remain contained.

Mr. Powell has consistently played down the notion that the economy is close to “overheating” — growing so fast, with unemployment so low, that it sets off a rapid escalation in wages and consumer prices. The economy’s 4.1 percent growth rate in the second quarter certainly is rapid, but its current pace for the year, about 3 percent, is only slightly above the Fed’s most recent forecasts. The statement acknowledged that acceleration but expressed no concern over it.