12.16.21 Federal Reserve Meeting Recap: Powell Pivot: Confirmed
The Federal Reserve (Fed) ended its two-day Federal Open Market Committee (FOMC) meeting yesterday and there were some notable shifts to monetary policy, although these shifts were largely expected by markets. After months of carefully communicating the Fed’s plan to reduce its asset purchases toward the middle of 2022, Fed Chairman Jerome Powell confirmed that an accelerated plan to reduce its asset purchases and to end its asset purchases altogether by March of next year was now warranted. Powell has noted in the past that the Fed would likely not raise rates while still providing accommodation through its asset purchase plans. By end
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