Federal Reserve Holds Policy Steady, Says Progress on Inflation Has Stalled

In addition to the rate news, the FOMC announced it is slowing the reduction of Treasuries held on its balance sheet – the so-called quantitative tightening (QT) – from $60 billion per month to just $25 billion per month. Other things being equal, the move is likely to boost risk appetite and asset prices, wrote economist Joseph Brusuelas.