Fed comments just released …..
As expected, the Fed announces no change in interests rates.
Inflation on a 12-month basis is expected to remain somewhat below 2 percent in the near term, but to stabilize around the Committee’s 2 percent objective over the medium term.
The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.
The Committee expects to begin implementing its balance sheet normalization program relatively soon, provided that the economy evolves broadly as anticipated.
Gold catches a bid off the news, now in positive territory for the day.
Enjoy the rest of your day.
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