The Federal Reserve, the US central bank, has just finished its policy meeting. These meetings are held 8 times a year. They provide two things:
- decision in interest rates and other monetary policy measures
- description of what the Federal Reserve thinks is, and will, be happening in the economy and how it may react.
Not much in terms of news this time. The Federal Reserve confirmed that in October it is ending its quantitative easing program which involved large scale purchases of securities in order to increase liquidity in the market and encourage lending.
It also provided forward guidance: it will start increasing interest rates next year but, for now, interest rates will remain low.
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