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Special Baker Market Update and Economic Brief

The Federal Open Market Committee (FOMC) today officially ended QE3 and maintained a commitment to keep rates low for a “considerable time”. The FOMC’s official statement reads, “The committee anticipates, based on its current assessment, that it likely will be appropriate to maintain the 0 to 1/4 percent following the end of its asset purchase program this month, especially if projected inflation continues to run below the Committee’s 2 percent longer-run goal, and provided that longer-term inflation expectations remain well anchored.” Read Baker Assessment of FOMC Actions. Read FOMC Announcement.