🏦Minutes of the Federal Open Market Committee March 16–17, 2021

*responses to the Open Mar- ket Desk surveys suggested more modest changes to policy rate expectations.

*The probability-weighted mean survey expectation for the target rate at the end of 2023 rose only around 5 basis points.

*progress toward the Committee’s goals and the intent to communicate well in advance of the time when progress could be judged substantial enough to warrant a change in the pace of purchases.

*The review rec- ommended raising the ON RRP per-counterparty limit from $30 billion to $80 billion.

FOMC Minutes here: https://www.federalreserve.gov/monetarypolicy/files/fomcminutes20210317.pdf