TechFlow News — At 2 a.m. Beijing time on Thursday, the Federal Reserve announced that it would maintain the benchmark interest rate unchanged at 0%-0.25%, and adjust the interest on excess reserves (IOER) from 0.1% to 0.15%. It will continue to increase holdings of at least $80 billion in Treasury securities and at least $40 billion in mortgage-backed securities per month until substantial progress is achieved toward the Committee's goals of maximum employment and price stability. The dot plot indicates two rate hikes by the end of 2023.
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