At its last meeting, the US Federal Reserve’s rate-setting body, the Federal Open Market Committee (FOMC), opted for status quo but made it clear that tapering of quantitative easing could begin as early as November and end by mid-2022.
Over the next two years, policy rates are likely to move higher. The Fed's dot plot, a chart that summarises the FOMC members’ outlook for the federal funds rate, gives us a sense of how these rates could rise between 2022 and 2024. The Fed has upgraded its inflation projection, which could be more persistent in the medium-term, and lowered its growth
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