The following lists the key highlights from the Fed statement released at the conclusion of the Apr. 24-25 FOMC meeting:
- No change in 0.00%-0.25% fed funds rate target; “exceptionally low rates” until late 2014
- Economy to “expand moderately,” then “pick up gradually”
- “Significant downside risks” remain; housing sector still “depressed”
- Inflation higher, though mainly due to energy prices, longer-term expectations “stable”
- Maintains current policy of lengthening maturity of assets and reinvesting proceeds from mortgage securities
- Jeffrey Lacker the lone dissenting vote, disagrees with late 2014 schedule for rate hikes
- USD higher versus major counterparts
- Treasury yields jump; 10-year yield up 3 bps from 1.97 pct to 2.00 pct
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.