A recent article on CNBC.com, written by Jeff Cox, and Titled: Fed holds rates steady near zero and indicates it will stay there for years, includes the following statement “Projections from individual members also indicated that rates could stay anchored near zero through 2023. All but four members indicated they see zero rates through then. This was the first time the committee forecast its outlook for 2023.” The article details the projections and expectations of the policymaking Federal Open Market Committee.
The year of 2020 will be remembered by many people and for many reasons. The year was rocked by a pandemic with a ripple effect that created an economic recession; complex social unrest; and a highly polarized presidential election. Oh, and let’s not forget it was also a year of historically damaging wildfires and hurricanes!