Jan 29
FOMC: Ready to scale up purchases
Overview : The Federal Open Market Committee (FOMC) decided at its policy meeting to keep the fed funds rate unchanged in the 0-0.25% range. Moreover, the committee signalled that the fund rate will remain low for a long time. It was decided not to scale up mortgage bond purchase programs or start buying Treasury securities. Richmond Fed President Lacker dissented, preferring to expand the monetary base by purchasing Treasuries rather than through targeted credit programs. The market was
