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FED
(MNI) WASHINGTON
  • Changes to Fed Funds / Interest Rate Paid on Reserve Balances (IORB) / ON RRP? NO
  • Does the Fed announce changes to asset purchases with regard to size, duration, and/or Tsy vs MBS? NO
  • Median projection of Fed funds at the end of 2022/2023/2024/Long Run? 0.3% (2022); 1.0% (2023); 1.8% (2024). 2.5% (longer run).
  • How many 2022 and 2023 dots are above 0.125%? 9 dots in 2022 (vs 7 in June SEP). 16 dots in 2023 (vs 13 in June SEP).
  • Does the FOMC change the sentence "Since then, the economy has made progress toward these goals, and the Committee will continue to assess progress in coming meetings"? YES. "Since then, the economy has made progress toward these goals. If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted."
  • Does the FOMC say it expects to meet "substantial further progress" "this year" or "soon/relatively soon" if the economy evolves as expected? YES: "may soon be warranted" replaces "will continue to assess progress in coming meetings".
  • Does the FOMC give any details of its tapering plan? NO
  • Any dissents to the decision? NO
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

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