Fed maintains dovish stance despite upgrading 2021 US growth to 6.5%

Fastest economic expansion since 1984 expected

Federal Reserve officials took a dovish stance in March's FOMC meeting yesterday, signalling that interest rates are likely to remain unchanged until 2024, despite a significant upgrade to US growth forecasts.

The Fed increased its US growth expectations for the year to 6.5% from the 4.2% forecast in December, which would mark the fastest economic expansion since 1984, on the back of fiscal stimulus and an accelerating...