At the completion of its two-day FOMC meeting, the Fed issued a statement that had the one important addition that points to a taper announcement at the Fed’s next meeting (November 2-3):
The only other change from the July FOMC statement was the recognition that the latest COVID-19 wave has impacted the economic recovery:
Everything else in today’s FOMC statement was the same as the July statement. The statement continues to claim that the recent high inflation is transitory. “Inflation is elevated, largely reflecting transitory factors.” The zero interest rate policy and...
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