Fed statement: US banking sector sound, further policy tightening may be appropriate

03/22 18:09

The Fed's FOMC statement said that members unanimously agreed with the interest rate decision. It also said that the U.S. banking sector is sound and resilient, but that some events will be a drag on economic growth. The Fed will continue to reduce its holdings of Treasuries and mortgage-backed securities at the same pace. Further tightening of policy may be appropriate. Data suggest moderate growth in consumption and production. Recent developments will lead to a tightening of the credit environment.

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