FOMC: No change expected at this week’s meeting – UOB

Lee Sue Ann, Economist at UOB Group, assesses the upcoming FOMC meeting (Wednesday).

Key Quotes

“Fed Chair Jerome Powell’s latest testimony continued to reaffirm the expectations that it would be “some time” before conditions to scale back their massive bond purchases were met.”

“We continue to hold the view that the Fed will keep policy rates at the current 0.00%-0.25% region at least until 2023.”

“This is premised on the continued successful rollout of vaccinations, as well as more fiscal stimulus in the coming months.”