FOMC statement: If progress continues as expected, a taper may soon be warranted.

FOMC statement highlights from the Sept 22, 2021 release:

  • Rates left unchanged at 0-0.25%, as entirely expected
  • Vote unanimous
  • Indicators of economic activity and employment have continued to strengthen
  • The sectors most adversely affected by the pandemic have improved in recent months, but the rise in COVID-19 cases has slowed their recovery
  • Inflation is elevated, largely reflecting transitory factors
  • Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain
  • Full text
Key line:
“If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted.”