Banking, finance, and taxes
FOMC Keeps Exceptionally Low Rates Through At Least Late-2014 Stance
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The FOMC is keeping its language that Fed Funds will remain at exceptionally low rates until at least late in 2014 and that is highly accommodative.
The FOMC is scaling back its economic outlook and the Operation Twist will continue as the FOMC will continue extending the maturity of its securities. On this front, the Fed will regularly review the size and the composition of the Treasury’s holdings.
Household spending and business investment was deemed to be up in most districts. A concern is that global financial strains still pose a significant risk to the U.S. economy. Overall the FOMC expects that unemployment will decline gradually and that growth will be moderate and pick up gradually. Housing remains depressed according to the FOMC statement.
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