Treasury yields edged lower after the Fed released its policy statement at the conclusion of its two-day meeting. The central bank said it would start reducing its $4.5 trillion balance sheet "relatively soon." As expected, the Fed kept interest rates unchanged. The 10-year Treasury yield fell 2.7 basis points to 2.311%. The 2-year Treasury yield slipped 3.2 basis points to 1.371%. While, the yield for the 30-year bond lost 1.6 basis point to 2.904%. The Federal Reserve offered a note of caution on inflation, saying it was "running below 2%" instead of "running somewhat below 2%." Overall, most of the changes made to the statement was largely anticipated. The Federal Reserve has been loathe to make significant tweaks to policy language on meetings without a press conference.
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