Central Bank Watch
FOMC Statement, Projections, and Press Conference
March 17, 2021
The FOMC voted unanimously (11-0) to retain the 0 to 1/4 percent federal funds target and continuing quantitative stimulus (purchases of at least $80 billion per month of Treasury bonds and at least $40 billion of agency mortgage-backed securities. Forward guidance was not modified but the released statement did tweak its projections. Growth conditions were […] More
Central Bank Watch
FOMC Preview
March 17, 2021
Since the last FOMC meeting seven weeks ago, investors have embraced riskier assets. The 10-year Treasury yield is 67 basis points higher now than then, and the DJIA is up 7.7%. The price of West Texas Intermediate crude oil has soared 21%, while gold has weakened 6.5%. the dollar has risen 5.0% against the yen, […] More
New Overnight Developments Abroad - Daily Update
Awaiting Today’s Fed Forecasts and Powell’s Press Conference
March 17, 2021
Against the backdrop of a significantly improved U.S. economic growth outlook this year and rising U.S. and global inflation lately, the 10-year U.S. Treasury yield climbed from 0.89% in mid-December to 1.01% when the FOMC last met to a 13-month high of 1.67% today, the second scheduled FOMC meeting of 2021 figures to be the […] More
