Despite having long maintained its commitment to keeping low interest rates till 2023, the inflation pandemic continues to spread within the Federal Reserve Open Market Committee (FOMC). With inflation expectations rising, murmurs of a rate adjustment have grown louder in the committee. 

“A number of participants suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases,” said the minutes of the US central bank’s April FOMC meeting. 

For now, however, the consensus remains that the pace of asset purchases remains unchanged. In line with previous pronouncements, no adjustment will take place “until the economy [has] made substantial further progress toward the Committee’s maximum-employment and price-stability goals.’

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