Fed kept monetary policy unchanged as expected. Federal funds rate is held at 0-0.25%. The target range will be maintained “until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.”
The asset purchase pace is also held at at least USD 80B on treasury securities and USD 40B on MBS per month. Though, it added that “if progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted.”
