The Fed acknowledged that economic conditions have improved but the recovery remains uneven and incomplete. As we expected, the Fed left interest┬аrates┬аunchanged, maintained the monthly pace of asset purchases and kept its forward guidance unaltered.
Fed upgrades its outlook
- One-time price increases will only have transitory effects on inflation
- Discussions on tapering likely to start in the summer; tapering to begin in 2022
- Control of the virus remains critical to achieve a full economic recovery