FOMC meeting recap: “Progress” toward taper, but not “substantial” yet With no updated economic forecasts at this month’s meeting, there were only two major areas of focus for traders: The monetary policy statement and Chairman Powell's press conference Share: As we noted in Monday’s FOMC meeting preview report, the Federal Reserve was never going to make any immediate changes to monetary policy at today’s meeting, but the event would still provide a valuable look into how the central bank is viewing the resurgence of COVID cases across the country and the ongoing elevated inflation readings. With no updated economic forecasts at this month’s meeting, there were only two major areas of focus for traders: