March 16-17, 2021 Federal Reserve issues FOMC statement

今回の声明の内容

結論：政策に変更無

前回同様緩和的な姿勢を継続することが示された。

The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved. 

these outcomesの内容

1. to achieve maximum employment
2. to achieve inflation at the rate of 2 percent over the longer run

the target range for the federal funds rate： 0 to 1/4 percent

target rangeについて、FOMCの所見

結論：it will be appropriate to maintain this target range

継続の目安

1. labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment
2. inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.

債券購入プログラムについて

政策に変更無

the Federal Reserve will continue to increase its holdings until substantial further progress has been made toward the Committee’s maximum employment and price stability goals. 

• Treasury securities by at least $80 billion per month
• agency mortgage‑backed securities by at least $40 billion per month

前回の声明との変更点

具体的な変更点無。

声明の内容

結論： The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved. 

these outcomesの内容

1. to achieve maximum employment
2. inflation at the rate of 2 percent over the longer run

具体的な政策

1. to keep the target range for the federal funds rate at 0 to 1/4 percent
2. to increase its holdings of
   • Treasury securities by at least $80 billion per month
   • agency mortgage-backed securities by at least $40 billion per month

Economic projections from the March 16-17 FOMC meeting

結論

経済見通しは強気。

意思統一は図られている。

2021年のGDP成長率6.5%、PCEインフレーション2.4%を予想している環境下で、2021年におけるmonetary policyのドットが動いていない。

株式市場にはプラスですね。

Economic projections

Economic projections：Median 

assessments of appropriate monetary policy