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FOMC Keeps QE Til 'Substantial Progress' Toward Dual Mandate; No WAM Shift

FED
(MNI) WASHINGTON
  • Fed keeps rates at 0%-0.25% and says will keep buying at least USD80B in Treasuries and USD40B in MBS "until substantial further progress has been made toward the Committee's maximum employment and price stability goals"
  • No shift in WAM for Treasuries purchases
  • Dot plot shifts more hawkish: 1 policymaker sees liftoff in 2022, 5 see higher rates by 2023 (with the highest projection at 1%-1.25%)
  • Economic forecasts downgraded in 2020, 2021 but out years look rosier
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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