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"Instant Answers" For Today's FOMC Decision

FED
We will be running "Instant Answers" for today's FOMC decision at 1400ET (this feature was formerly called "Human Readable Algo" - see page 3 of our Fed preview for more info). We'll publish the answers to these questions shortly after the Fed decision is released. The questions that we have selected for this meeting are:
  • Changes to Interest Rate Paid on Excess Reserves (IOER) / minimum bid rate on overnight repo?
  • Does the statement replace the current reference to the "symmetric 2 percent inflation objective"?
  • Does the statement alter language on asset purchases, and/or does the Fed announce changes to purchases with regard to size, duration, and/or conditionality?
  • Are there any changes to the longer-run medians in the SEP for fed funds (in June: 2.5%), unemployment (4.1%), or Inflation (2.0%)?
  • What is the median estimate for headline PCE inflation in 2023?

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