Tai Hui: The Federal Reserve maintains interest rates unchanged and significantly simplifies policy statements

Tai Hui, Chief Market Strategist for Morgan Asset Management Asia, stated that the FOMC meeting chaired by Federal Reserve Chairman Kevin Walsh decided to keep the target range for the federal funds rate unchanged at 3.50% -3.75%. The length of this policy statement has been reduced by about half, the content has been significantly streamlined, and the implicit tendency towards looseness has been abandoned. The description of economic growth, job market, and inflation prospects has become more concise. Tai Hui believes that the FOMC is willing to remain patient and the Federal Reserve will not adjust interest rates this year.