The Federal Reserve is expected to wrap up its latest policy meeting on Wednesday with somewhat rosier economic forecasts but a renewed pledge to keep interest rates low for as long as the world's biggest economy needs to recover from its deepest downturn in decades.
- The Federal Reserve is expected to wrap up its latest policy meeting on Wednesday with somewhat rosier economic forecasts but a renewed pledge to keep interest rates low for as long as the world’s biggest economy needs to recover from its deepest downturn in decades.
Fed officials don’t appear ready to translate that framework into an explicit promise to keep the central bank’s key overnight lending rate in its current range of 0% to 0.25% until certain economic benchmarks - say, 2.5% inflation - are met. But the Fed is likely to close out this meeting with other signals for its long-term commitment to easy monetary policy, Alexander and other analysts said.
“In both these cases, and especially the latter, the market reaction could be quite dovish,” Cornerstone Macro economist Roberto Perli wrote on Monday.
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