FOMC concludes its January monetary policy

EYE ON THE MARKET

The Federal Open Market Committee (FOMC) concluded its January monetary policy meeting by cutting asset purchases by $10 billion to $65 billion per month, its second consecutive $10 billion cut; however, the Fed Funds rate remained unchanged. The FOMC said future changes to asset purchases would be data dependent and they anticipate the Fed Funds rate to subsist well past the time when headline unemployment reaches 6.5%, “especially if projected inflation continues to run below the Committee’s two percent longer-run goal.”

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