{"id":533,"date":"2021-03-18T00:00:00","date_gmt":"2021-03-18T00:00:00","guid":{"rendered":"https:\/\/norrismclaughlin.com\/bwob\/2021\/03\/18\/u-s-central-bank-concerned-inflation-fed-projects-2021-growth-forecast\/"},"modified":"2021-03-18T00:00:00","modified_gmt":"2021-03-18T00:00:00","slug":"u-s-central-bank-concerned-inflation-fed-projects-2021-growth-forecast","status":"publish","type":"post","link":"https:\/\/norrismclaughlin.com\/bwob\/business-law\/u-s-central-bank-concerned-inflation-fed-projects-2021-growth-forecast\/","title":{"rendered":"U.S. Central Bank Not Currently Concerned About Inflation &#8211; Fed Projects 2021 Growth Forecast to Reach 6.5% &#8211; Fed Chair Powell Speaks"},"content":{"rendered":"<p>The <a href=\"https:\/\/norrismclaughlin.com\/bwob\/87\" target=\"_blank\" rel=\"noopener noreferrer\">Federal Open Market Committee (FOMC)<\/a> met yesterday, March 17, and the central bankers appeared more optimistic about the U.S. economic outlook. They are increasing their median growth estimate two points, raising it to 6.5% for 2021. The increased growth projections emanate from the $1.9 trillion COVID-19 relief package signed into law by President Biden on March 11.<!--more--><\/p>\n<h2><strong>U.S. Central Bank Not Currently Concerned About Inflation<\/strong><\/h2>\n<p>Stimulus checks of $1,400 are already going out to Americans, and other stimulus payments are expected to support ailing businesses and their employees.<\/p>\n<p>One of the concerns facing the FOMC was that the stimulus package would flood the market with additional cash, possibly causing inflation to rise to 2.4%. Financial markets expressed concern that the size of the stimulus program would lead to inflation, causing the Fed to increase rates to avoid an inflationary spiral. Notwithstanding that concern, such as it is, the FOMC indicated that it did not expect to raise its benchmark interest rate through at least 2023 and indicated that the central bank is \u201cprepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee\u2019s goals.\u201d<\/p>\n<h2><strong>Fed Chair Jerome Powell Speaks on 2021 Growth Forecast<\/strong><\/h2>\n<p>At his press conference, which wrapped up at 3:30 yesterday afternoon, Powell stated that the Fed must see \u201csubstantial further progress from the U.S. economy towards its 2% long-term inflation and maximum employment goals before it begins considering tapering its multi-billion-dollar bond purchases. Powell stated that \u201cuntil we give a signal, you can assume that we\u2019re not there yet. As we approach it, well in advance, well in advance, we will give a signal that yes, we\u2019re on a path to possibly achieve that, to consider tapering.\u201d<\/p>\n<p>If you have any questions about this post or any other related\u00a0<a href=\"https:\/\/norrismclaughlin.com\/bwob\/1361\" target=\"_blank\" rel=\"noopener noreferrer\">international business<\/a> matters, please feel free to contact me at <a href=\"mailto:rcgabrielski@norris-law.com\" target=\"_blank\" rel=\"noopener noreferrer\">rcgabrielski@norris-law.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Open Market Committee (FOMC) met yesterday, March 17, and the central bankers appeared more optimistic about the U.S. economic outlook. They are increasing their median growth estimate two points, raising it to 6.5% for 2021. The increased growth projections emanate from the $1.9 trillion COVID-19 relief package signed into law by President Biden [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[70,43,2],"tags":[181,182,183],"coauthors":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.1 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. Central Bank Not Currently Concerned About Inflation - Fed Projects 2021 Growth Forecast to Reach 6.5% - Fed Chair Powell Speaks - Business Without Borders\u00ae<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/norrismclaughlin.com\/bwob\/business-law\/u-s-central-bank-concerned-inflation-fed-projects-2021-growth-forecast\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Central Bank Not Currently Concerned About Inflation - Fed Projects 2021 Growth Forecast to Reach 6.5% - Fed Chair Powell Speaks\" \/>\n<meta property=\"og:description\" content=\"The Federal Open Market Committee (FOMC) met yesterday, March 17, and the central bankers appeared more optimistic about the U.S. economic outlook. They are increasing their median growth estimate two points, raising it to 6.5% for 2021. The increased growth projections emanate from the $1.9 trillion COVID-19 relief package signed into law by President Biden [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/norrismclaughlin.com\/bwob\/business-law\/u-s-central-bank-concerned-inflation-fed-projects-2021-growth-forecast\/\" \/>\n<meta property=\"og:site_name\" content=\"Business Without Borders\u00ae\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-18T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/norrismclaughlin.com\/bwob\/wp-content\/uploads\/sites\/2\/2022\/12\/financial-institution-bank-money.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"516\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert C. 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