9.16.20
This Wednesday, September 16, the Federal Reserve (Fed) signaled during their Federal Open Market Committee (FOMC) meeting that interest rates will be kept between 0 – 0.25%, with some FOMC members indicating that rates could stay anchored near zero through 2023. In addition, the Fed formalized their language regarding changes to inflation goals aiming “to achieve inflation moderately above 2 percent for some time.” The Fed expects the year-end median unemployment rate to be 7.6%, an improvement from the 9.3% projection released in June. The Fed also adjusted the year-end GDP growth rate from -6.5% to -3.7%.