17 Dec 20 - Fed Meeting | ANZ AGM Global markets were mixed overnight (S&P 500 index +0.2%) after retail-sales data missed estimates in a sign the economy may slump without a spending deal as the virus prompts fresh restrictions. On a positive note, congressional leaders appear close to a bill that would inject more than $700bn into the economy. The US Federal Reserve held its last meeting for the year this morning, and the Fed decided to keep interest rates unchanged in its December meeting after slashing them to near-zero in an emergency meeting in March due to the fast-spreading coronavirus. The Dot plot from the FOMC remains the same and they are committed to asset purchases until substantial progress is made with regards to unemployment and inflation. However, the Fed dialled up its economic expectations slightly for the end of this year as well as for 2021, according to the central bank’s Summary of Economic Projections – it now expects real gross...