FED: FOMC statement leaves rates unch with FF at 0…

FED: FOMC statement leaves rates unch with FF at 0 to 0.25% and
keeps lang on FF remaining exceptionally low for extended pd. KC Fed’s
Hoenig dissents, says “exceptionally low levels” lang no longer
warranted – could lead to buildup of fincl imbalances, increase risks to
long-run macroecon and fincl stability. FOMC Keeps MBS at $1.25T and
Agcy program at $175B, says nearing completion; remaining transactns
done by end-March. Term Asset-Backed Securities Loan Facility to close
June 30 for newly-issued CMBS, Mar 31 for all other types of collateral.
Outlk is “econ activity has continued to strengthen” and that labor mkt
is “stabilizing.” Repeats resource slack continues, infl likely to
remain subdued for some time. Finl mkts conditions “remain supportive”
of growth. Pace of econ recov to be moderate for a time. Repeats Hsg
spendg expanding at moderate rate but constrained by high unemployment.