FOMC statement highlights from the Sept 22, 2021 release:
- Rates left unchanged at 0-0.25%, as entirely expected
- Vote unanimous
- Indicators of economic activity and employment have continued to strengthen
- The sectors most adversely affected by the pandemic have improved in recent months, but the rise in COVID-19 cases has slowed their recovery
- Inflation is elevated, largely reflecting transitory factors
- Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain
- Full text
Key line:
"If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted."
The US dollar initially jumped but gave it back with the 2022 dots evenly split 9-9 for a hike versus no hike. However there's now just one Fed member who doesn't see a 2023 hike.
