FOMC latest publications
The FOMC made upward revisions to their GDP and inflation outlook and lowered its estimates of the unemployment rate, but kept its projections of the policy rate at the zero lower bound at least until 2023.
Today’s statement confirms our outlook that a successful vaccination strategy is paramount to support the economic recovery, interest rates will remain low for a prolonged period and tapering remains off the table at least until 2022.
The statement signalled that the Fed remains a pillar of unity and stability in uncertain times, while the assessment of economic conditions confirmed ongoing improvements albeit at a significantly reduced pace.
September 16, 2020
FOMC Meeting September 15-16:Fed delivers on forward guidance, but defers on changes to QE
After announcing the changes to the Longer-Run Goals and Monetary Policy Strategy in the intermeeting period, the FOMC followed up with a very dovish statement at the September meeting.
The Fed released its updated Statement on Longer-Run Goals and Monetary Policy Strategy, which reflect changes in the economy over the past decade and explains how policymakers are planning to conduct monetary policy. The statement also enhances transparency, accountability and effectiveness of monetary policy.
August 19, 2020
FOMC Minutes July 28-29th: Fed narrows its focus on policy guidance and asset purchases
Fed uses July meeting to discuss policy options as the strategy shifts from “stabilization to accommodation”. Most members continue to view the outlook as extremely uncertain.
July 29, 2020
FOMC Meeting July 28-29: Dovish tone signals more accommodation for an extended period
As expected, the Fed left interest rates unchanged and reaffirmed its commitment to, at a minimum, maintaining the current pace of asset purchases while also defending its expanded use of its lending powers until the economy is on the road to recovery.
The June 9-10 FOMC meeting statement provided a very dovish perspective on the economy. It reinforced the severe damage from Covid-19 to both economic activity and the labor market.