Only “a couple of participants indicated that they were open to” shaking up the composition of purchases. The Fed’s December meeting took place as virus cases surged after Thanksgiving. Since then, the number of new cases moderated at first but then resumed their increase. They have been clear that their outlook hinges on the success of that process and the path of the pandemic. “The second half of the year looks much more promising because of vaccinations,” Loretta Mester, president of the Federal Reserve Bank of Cleveland, said on a call with reporters this week.

Source: International New York Times January 06, 2021 21:28 UTC