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Jon Hilsenrath’s Takeaways From the Fed Statement and Economic Projections
DROPS THE THRESHOLD: The Federal Reserve has been linking its plans for short-term interest rates to the path of the unemployment rate. It dropped that direct connection and said it would look at a broader array of indicators in deciding when to start raising short-term interest rates, including labor market conditions, inflation and financial conditions. The Fed still thinks it will keep rates near zero “for a considerable time” after its bond buying program ends. The program is on a path to be completed late this year. A SLOW PATH OF RATE HIKES: The Fed said for the first time explicitly that it would keep ... (full story)
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