December 16 FOMC Summary
Thursday, December 17, 2020
Below is a brief summary of yesterday’s FOMC statement. Rates In their final meeting of 2020, the FOMC voted to keep the Fed Funds target rate unchanged within the 0.00% to 0.25% range. This outcome was widely expected, and all committee members voted in favor of the action. The forward guidance on monetary policy indicated continued support for maintaining the current target range through 2023. Inflation Today’s statement reiterated the Committee’s commitment to the average inflation-targeting approach that was announced in August and September. The language remained unchanged, as the statement again noted the Fed will “aim to achieve inflation…