FOMC

The Federal Reserve said it will continue to support the economy through massive monetary stimulus until it sees “substantial further progress” in employment and inflation.

The Federal Open Market Committee meeting this week will not offer the chance of rate changes, but will bring a new dot plot, and economists are most interested in the GDP projections.

Christopher Waller was confirmed to a seat on the Federal Reserve Board on Thursday by a 48-47 vote along party lines.

The Federal Reserve is in no hurry to taper its massive bond buying program, Chair Jerome Powell said Wednesday.

The Senate voted to advance Christopher Waller’s nomination to serve on the Federal Reserve Board, clearing the way for final confirmation Thursday.

Federal Reserve Governor Lael Brainard said Tuesday that more government fiscal aid is needed to prevent deeper damage to a U.S. economy coping with a fresh surge in coronavirus cases.

Senate Majority Leader Mitch McConnell set up a vote to advance the nomination of Christopher Waller to the Federal Reserve Board, potentially clearing the way for his confirmation later this week.

Federal Reserve Chair Jerome Powell is cautioning lawmakers that the U.S. economy remains in a damaged and uncertain state, despite progress made in the development of COVID-19 vaccines.

The U.S. economy seems to be holding up despite a surge in COVID-19 cases and hospitalizations, clouding the case for more monetary stimulus, Federal Reserve Bank of Richmond President Thomas Barkin said.

Federal Reserve officials discussed providing more guidance on their bond-buying strategy during their Nov. 4-5 policy meeting.