The Federal Open Market Committee left future economic policies virtually unchanged at its Wednesday meeting, indicating it has not made any near-term plans to taper its asset purchases of Treasury– and mortgage-backed securities (MBS).

The FOMC did alter April’s verbiage of the nation’s larger economic status given positive progress on vaccine distribution, employment and inflation. The committee updated its post-meeting statement to acknowledge that economic activity had “strengthened” while noting a drop in their risk assessment. They reported “risks to the economic outlook remain” rather than the “considerable risks” language used in the March statement.

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