
The Federal Reserve Open Markets Committee (FMOC) met this week and decided Wednesday, as widely expected, to leave rates and asset repurchase policies unchanged. In their statement, the committee improved their outlook for 2021 GDP growth to 6.5% (up 2.3%) and lowered their unemployment forecast from 5% to 4.5%, with the caveat that their economic forecast is virus-dependent. The net message is that in spite of this improved outlook, the Fed will remain accommodative.
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