FOMC: Asset Purchases May be 'Moderated' if Economic Progress Continues.

ENPNewswire-September 23, 2021--FOMC: Asset Purchases May be 'Moderated' if Economic Progress Continues

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 22092021 - If the economy continues to improve broadly, 'a moderation in the pace of asset purchases may soon be warranted,' the Federal Open Market Committee said today.

Since last December, the economy has made progress towards the committee's goals of maximum employment and price stability, and the committee said it expects that progress to continue.

The target range for the federal funds rate will stay at zero to 0.25%, the committee said, adding that it expects it will maintain that range until inflation has risen to 2%, is on track to moderately exceed 2% and maximum employment is reached.

Meanwhile, elevated inflation will likely remain in the coming months before moderating, Federal Reserve Chairman Jerome Powell said in a press conference after the release of the FOMC statement. He added that supply chain bottlenecks have been larger and longer lasting than anticipated and have led to upward revisions to inflation projections for this year.

'The process of reopening the...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT