It was an important meeting. The Fed has increased their optimism about the U.S. economy. It looks like they will soon begin to ease off some of their stimulus by reducing the size of their bond-buying program. Since May 2020, the Fed has been buying $80 billion in Treasurys and $40 billion in mortgage-backed bonds each month to help push down longer-term interest rates and add liquidity to the market. At their next meeting in November, they plan to announce a tapering of those bond purchases and begin the process shortly afterward. They will end it in mid-2022, assuming the economy stays on track.
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