FOMC meeting: key points
- The overall outcome of the Dec. 17 meeting is seen as mixed
- As many analysts expected, the US Federal Reserve removed a commitment to keep rates low for a considerable time. However, the Fed tried to hedge itself by replacing these words with "patience" in tightening the monetary policy. What's more, they added that they see no difference between the old guidance and the new one:
- 2014 GDP forecast range was revised to the upside, 2014 and 2015 left unchanged;
- Meanwhile, the inflationary forecasts were reduced to the downside (dovish sinal for the US dollar).