SEPTEMBER 16, 2020 - FOMC MEETING RECAP

Jim Barnes, Senior Vice President and Director of Fixed Income at BMT Wealth Management, discusses the Federal Open Market Committee (FOMC) meeting that concluded on September 16th.  At this meeting, the FOMC released an updated Summary of Economic Projections which projected the Fed will keep interest rates near zero through at least 2023.  In the post FOMC press conference, Chairman Powell acknowledged the improving economy and the recent bounce in economic data but also reiterated the U.S. economy has a way to go before getting back to pre-COVID days.