FOMC allows dust to settle while it prepares for next phase

Summary

The statement signalled that the Fed remains a pillar of unity and stability in uncertain times, while the assessment of economic conditions confirmed ongoing improvements albeit at a significantly reduced pace.

Key points

• Key points:
• Fed reaffirms forward guidance on interest rates
• Reliance on LSAP to support the economic activity and financial stability will continue until the recovery is on a self-sustaining path
• FOMC will enhance communication and transparency with greater details on SEP at the December meeting

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