At the meeting, held June 15-16, US Federal Reserve left interest rate unchanged: “The committee keeps the range of bets from 0 to 0,25 %. This spectrum will persist until then, until the level of employment in the labor market and the level of increase in the increase in the general price level reach motivated values". Foreseen, that the interest rate in 2023 will increase to 0,6 %. At the last meeting in March, the regulator said, that it will start raising the rate no earlier than in 2024.
Expectations FED to increase the general level of prices in 2021 increased immediately by one percent, with 2,4 to 3,4 %. Long waits haven't changed: “The Committee aims to achieve a 2% increase in the general price level in the long term. The level of increase in the general level of prices is constantly falling below the motivated, that's why we aspire to, so that short-term inflation is above two percent. Financial policy remains the same, until the goal is reached". Consumer price index up 5% in May, but the regulator called the growth temporary.
Fed informed, which will increase assets within the framework of its own soft financial policy: “The Fed will continue to take more than $80 billion in Treasury bonds in a month, also mortgage bonds for more than $40 billion per month. Such purchases help to ensure the continuous operation of the market and suitable monetary conditions.”.
The Commission raised its expectations for an increase in gross domestic product in 2021 from 6,5 up to seven percent: “Vaccination and stimulus steps boost financial activity and employment in the labor market. More affected areas remain weak, but we see an improvement". The regulator may announce a gradual reduction in stimulus steps in August at the annual symposium in Jackson Hole.
The securities market reacted calmly to the likely earlier increase in interest rates. Major American S indicators&P 500, Nasdaq Composite and Dow Jones decline slightly, less than 1%. 10-year Treasury yields rose from 1,49 to 1,58%.
