During this episode of Financial Festivities, recorded on September 27th, 2021, Grant discusses how the Federal Reserve operates by employing monetary policy. He outlines the steps that the central bank has taken to combat the COVID-19 pandemic, and how those efforts have impacted inflation and unemployment in the U.S. Finally, the host summarizes the events of the most recent Federal Open Market Committee (FOMC) meeting and provides a possible timeline for the beginning of rate hikes, and the tapering of bond purchases.
Data on inflation: Bureau of Economic Analysis
Data on unemployment: Bureau of Labor Statistics
Projections from September 21-22 FOMC meeting: Federal Reserve Board of Governors
Transcript from September 21-22 FOMC meeting press conference: Federal Reserve Board of Governors
CNBC Fed survey on taper timeline: CNBC
The Fed’s “Toolbox”: The Balance
Discount Rate vs, Federal Funds Rate: Investopedia