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Federal Reserve Widely Expected To Keep Dovish Stance

April 28, 2021 by Forex Winner Leave a Comment

Federal Reserve Widely Expected To Keep Dovish Stance

Federal Reserve Chair Jerome Powell is likely to maintain his dovish stance during the policy meeting this week, according to Bloomberg.

Federal Reserve Widely Expected To Keep Dovish Stance
  • The Federal Open Market Committee (FOMC) is widely expected to maintain its bond buying program at $120 billion monthly.
  • An economist said the Fed is pushing to maintain economic support as there is not enough evidence of a recovery, and the United States is not out of the woods yet.
  • The FOMC is also likely to to maintain plans to slow asset purchase once significant strides are made in terms of employment and inflation.
  • The panel is scheduled to release a statement at 2 p.m., but no quarterly forecasts will be published at the meeting. Powell will talk to the media at 2:30.
  • The market will await guidance on why the Fed is not poised to respond to strengthening data, as there are still 8 million jobs lower than pre-COVID-19.
  • Powell last week said the Fed is prepared to do everything it can to support the economy for ‘as long as it takes” to recover completely.

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