- FOMC minutes Dec 15-16 2020
- On the one hand noting that the economic recovery had been stronger than expected, officials agree that growth has slowed sharply in recent weeks. Fed staff expects real GDP growth to weaken in Q1 of this year, but revised higher its forecast for all 2021, thanks to the vaccine.
- Even with the vaccine cutting near-term downside risks, officials see plenty of uncertainties that could threaten the recovery.
- Officials agreed to continuing with monthly Treasury purchases of up to $80B and MBS buys of up to $40B, with some open to lengthening maturities. A tapering of QE was part of the discussion as well, with officials agreeing that the process would be similar to that employed in 2013-14.
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Wednesday, January 6, 2021
FOMC minutes: All in favor continuing current QE pace
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