On 17th March, the Federal Reserve published the FOMC (Federal Open Market Committee) statement. The statement focused on the protection of economic growth in the United States, as well as the interest rates. The FOMC meeting was a really pivotal event, as the Committee discussed inflation, which becomes big of a threat for the countries.
The day after the statement was issued, many stocks had responded. What were the reactions? And what exactly did the FOMC statement contain?
The statement itself
Well, in their statement, the Federal Open Market Committee has reminded everyone of how the Covid-19 pandemic caused hardships for both the economies and people all across the globe. As more and more of the markets are recovering, the indicators of employment and economic activity have turned up. But there still are some sectors, which hit the most harshly by the crisis, remain weak. Inflation stays under …