Lovey-dovey FOMC, main points in summary

Author: Eamonn Sheridan | Category: Central Banks

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

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:


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