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IOER adjusted up 5bps as was largely............>

FED
FED: IOER adjusted up 5bps as was largely expected, as with conducting term and
overnight repo operations "at least through April 2020" (vs Jan previously).
- A couple of changes to the statement (per our Policy team's writeup) - the
major one there being "inflation returning to" the Fed's symmetric 2% objective,
rather than "near" the 2% objective. Officials at their December meeting had
debated the change, saying "near" 2% could be misinterpreted as suggesting that
policymakers were comfortable with inflation running below that level.

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