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Fed holds rate steady and promises to stay there for years
https://www.cnbc.com/2020/09/16/fed-...est-rates.htmlQuote:
As the central bank concluded its two-day policy meeting Wednesday, it said short-term rates would remain targeted at 0%-0.25%. Officials also changed their economic forecasts to reflect a smaller decline in GDP and a lower unemployment rate in 2020.
Projections from individual members also indicated that rates could stay anchored near zero through 2023.
But the market wants to see the fed do more right now. Will the fed do more any time soon, is the question. Will they really be able to push inflation over 2%. I hope they don't (and don't think they will be able to), but wacky world of wall street wants asset inflation - now.
Looks like the fed will continue to support markets via corporate bond buying which seems to be working. ZIRP doesn't appear to be on the table and that option would pretty much kill US banks.