US Federal Reserve Chair Jerome Powell speaks at a virtual news conference displayed on a computer in Tiskilwa, Illinois, on Wednesday. That caused the spread between two and 10-year yields, along with the gap between five and 30-year yields, to widen slightly. The Fed on Wednesday committed to using its full range of tools to support the economic recovery. Officials expect rates to stay ultra-low through 2023, according to the median projection of their quarterly forecasts, although four officials penciled in at least one hike in 2023. In other updates to quarterly forecasts, Fed officials expect a shallower economic contraction this year than before, but a slower recovery in the coming years.

Source: Taipei Times September 17, 2020 15:56 UTC