Here are the highlights of the Federal Reserve and Chairman Jerome Powell statement:
- The US Federal Reserve kept interest rates at 0.25% as expected.
- Interest rates are expected to remain unchanged until the end of 2021.
- According to the Federal Reserve, net inflation is projected to be around 3% in 2021. The previous forecast was 2.2%.
- Inflation has risen sharply in recent months.
- Inflation is expected to remain high in the coming months.
- Policies will continue to strongly support the economy.
- The rate of change in the labor market is contradictory.