[REPOST] PREVIEW: FOMC December meeting minutes due 6th January at 19:00GMT/14:00EST

The FOMC held the FFR target between 0.00-0.25%. It also enhanced its statement language to state a specific level for its asset purchases (USD 80bln Treasuries, USD 40bln MBS – unchanged levels) and removed references to buying at "the current pace", while also linking purchases to further progress being made towards reaching maximum employment and price stability goals. Notably, the Fed did not extend the weighted average maturities of its purchases (analysts judged the chances as 50/50 going into the meeting), with some suggesting that a January decision may be more appropriate, allowing the Fed to see how the pandemic's resurgence and fiscal stimulus plays out. Meanwhile, its forecasts saw near-term GDP upgraded, but 2023 onwards (including the long-term) was lowered; the unemployment rate projections were lowered across the forecast horizon, and the long-term dot was unchanged. The core inflation profile was lowered in 2020, but upped for 2021 and 2022, although interestingly, the longer-term inflation dots remained unchanged. To download the full report, please click here

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NOTE: This preview was initially posted on Tuesday 5th January

06 Jan 2021 - 17:16- Fixed IncomeData- Source: Newsquawk