Latest Updates: Related to Inflation

Early Market Gains Reverse as Powell’s Words Fall Flat

01/26/2022

The official statement released at the conclusion of the two-day FOMC meeting this afternoon held no real surprises. By unanimous vote, the committee kept the overnight rate target steady at 0.00% to 0.25%, and clearly signaled that a March liftoff “will soon be appropriate.” The labor market was characterized as “strong,” reiterating that the Fed believes its employment mandate has been achieved. The committee believes downside risks remain, including new variants of the virus; this language was unchanged from December.

 

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