Janet Yellen Speaks: Fed Decision in Two Minutes

The transcript discusses the Federal Open Market Committee's (FOMC) monetary policy stance, noting improvements in the labor market despite a slowdown in job growth. It projects GDP growth above normal estimates and inflation gradually returning to 2%. The FOMC plans to reduce asset purchases and maintain the federal funds rate target for a considerable time after the asset purchase program ends, especially if inflation remains below the 2% goal.

What changes are being made to the asset purchase program starting next month?

What does the committee reaffirm regarding the federal funds rate after the asset purchase program ends?