The Fed: Still Inching Toward a Policy Exit

The Federal Reserve, compressing its typical two-day policy session into a single day, edged cautiously further along the continuum between aggressively stimulative and less generous monetary policy on Mar. 16. While the federal funds rate target was held to its 0%-to-0.25% range, the language in the statement released after the meeting continued to evolve in terms of how the recovery is taking hold—and the extent to which inflation risks remain contained.

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