4/7, 8:17 PM (Source: TeleTrader)
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FOMC Minutes: Economy dependent on vaccinations

The Federal Reserve published on Wednesday its second highlights report this year on the joint meeting of the Federal Open Market Committee and the Board of Governors, confirming that the pace of the United States economic recovery will majorly depend on the speed of the vaccinations against the COVID-19.

The Fed noted indicators of economic activity and employment had turned up recently, although the sectors most adversely affected by the pandemic remained weak. In addition to that, committee members agreed that the ongoing public health crisis continued to weigh on economic activity, employment and inflation, and was posing considerable risks to the economic outlook.

The Fed reiterated its commitment to using its full range of tools to support the country's economy, thereby promoting its maximum employment and price stability goals. Lastly, committee members agreed they would continue to monitor the implications of incoming information for the economic outlook and be prepared to adjust the stance of monetary policy as appropriate.

Breaking the News / ND