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The Federal Reserve Open Market Committee (FOMC) issued its statement indicating again that interest rates will remain low for an extended period of time. The decision was not unanimous: it came with one dissenting vote.
The Fed has, in essence, decided to continue its current course of discontinuing quantitative easing with the elimination of the remaining special programs. Shrinking the Fed balance sheet is the next step. However, monetary policy in general will be loose with the rates staying low for an extended period of time.
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