Adam and Greg were all over the Federal Open Market Committee and Powell's presser following:

  • Fed leaves rates unchanged with no changes to QE, as expected
  • FOMC full statement from the March 2021 meeting
  • The Feds central tendencies and dot plot for the March 2021 meeting
  • FOMC full statement from the March 2021 meeting
  • Fed's Powell opening statement: Economic recovery uneven, far from complete
  • Powell Q&A: We want to see actual 'substantial progress' not just forecasts before taper talk

    • Check out those posts for the detail, and in summary:

    • no change to policy with no dissent, the vote was 11 - nil.
    • and there will be continued monetary policy accommodation until there is substantial further progress on the goals of full employment and inflation
    • January's economic outlook was upgraded, the Fed says the indicators for economic activity & employment have "turned up" ... but do add the caveat that the worst pandemic-impacted sectors remain weak
    • the median dot (11 of 18 FOMC members) still see no rate hike through to 2023
    • Powell made sure to emphasize at his presser that the FOMC needs to actual inflation sustainably at or above target before there would be a change oin policy - and this is some way away still
    Adam and Greg were all over the Federal Open Market Committee and Powell's presser following: