The New Paper

March 18, 2021

Fed projects stronger GDP growth in 2021

The Fed projected that US GDP will grow by 6.5% this year (up from 4.2% in December projections), citing progress on coronavirus vaccinations and recent fiscal policy. Meanwhile, the Fed committed to maintaining its benchmark interest rate near zero (at 0-0.25%) until labor market conditions fully recover and inflation reaches (and will “moderately exceed”) 2%. Access the statement and projections here.
This story is from the March 18, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.