Fed does …. nothing.
The Fed Dot Plots from today’s announcement.
Compared to December’s Dot Plots. More govs are seeing higher rates in the future. Just not in 2021.
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See also Inflation Alert! Fed Governor Philip N. Jefferson: "if you are willing to widen your lens to include a more commonplace definition, then it is possible to conclude that current monetary policy is, in fact, "on track."" "The bad news is that there has been little progress on core inflation."
The Dow rose with joy at the thought of endless stimulus.
See also RAGHURAM G. RAJAN: 'The time has come to consider whether monetary policy is the systemic force that created systemic vulnerability in the first place.'
And the Treasury 10Y-2Y curve.
Gold and silver rose on the non-announcement, while the US Dollar fell.