Following the decision of the Federal Open Market Committee (FOMC) to keep the policy rate unchanged within the target range of 0-0.25%, Jerome PowelHe, Chairman of the Board of Governors of the Federal Reserve System, is offering his comments on the political outlook.
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“Our new framework emphasizes the importance of well-anchored inflation expectations, which appear broadly consistent with our objective.”
“If the path of inflation moves materially and persistently beyond the target, the Fed is willing to adjust policy.”
“Continued progress on vaccines would support a return to more normal economic conditions.”
“The The Fed continued to assess progress towards tighter targets and considered the pace and composition of the reduction in the purchasing program when it begins.“.
“The Committee discussed how asset purchases could be changeds.”
“The Fed expects the economy to keep moving toward substantial progress.”
“The tapering time will depend on the incoming data.”
“We will give advance notice before any changes.”
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