12.16.20
At their December 16th meeting, the Federal Open Market Committee (FOMC) decided to “continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency MBS by at least $40 billion per month until substantial further progress has been made toward the FOMC’s maximum employment and price stability goals.” Federal Reserve Chair Powell noted the next few months are “likely to be very challenging” and “[a] full economic recovery is unlikely until people are confident that it is safe to reengage in a broad range of activities.” The Committee also revealed updated economic projects which were slightly improved from September’s forecasts. Powell noted that “fewer [Committee] participants see the balance of risks as weighted to the downside than in September.”