Few Changes to Policy Guidance Leaves Fed On Track For March Hike
As was widely expected, the FOMC left the fed funds rate target range unchanged at 1.25%–1.5% today and the policy statement was little changed from that released in December. Yellen now passes the baton on to Chairman Powell and he can use Humphrey-Hawkins testimony in mid-February and/or his March 21 press conference (when new forecasts and more data will be available) to refine the policy message for beyond the next FOMC meeting.
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