FOMC

Federal Reserve Vice Chairman Richard Clarida, voicing optimism on the economic outlook thanks to coronavirus vaccines, said the U.S. will likely avoid slipping back into recession as growth rebounds next year.

The Federal Reserve's Summary of Economic Projections forecasts inflation won't hit its 2% target next year, and others agree.

The Federal Open Market Committee announcement commits it to buying at least $120 billion of securities a month until “substantial further progress” is made on its dual mandate of stable prices and maximum employment, suggesting it will continue well into 2022.

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.

The Federal Reserve’s bond-buying program is serving its purpose well at the moment, though the central bank could adjust the parameters if needed, New York Fed President John Williams said.

With rates at the effective lower bound, increased asset purchases will be the Fed’s main monetary policy easing tool going forward, and that's what analysts will be scanning the FOMC minutes for.

While the facilities' availability inspired market confidence, the fact that $455 billion remains unused suggests shutting down the programs is unlikely to cause major problems, analysts say.

Judy Shelton’s nomination to the Federal Reserve Board was blocked in the Senate Tuesday, a stunning defeat for Senate Majority Leader Mitch McConnell.

The Federal Reserve’s changed policy framework is “an evolution, not a revolution,” according to Vice Chair Richard Clarida.

Financial markets should not fret if the Federal Reserve’s emergency lending facilities are not extended at the end of this year, when all but one are due to expire, Federal Reserve Bank of St. Louis Fed President James Bullard said.

The latest wave of COVID-19 outbreaks in the U.S. may weigh on economic growth in the coming months, Federal Reserve Bank of New York John Williams said.