Fed does not commit to taper The Fed policy statement was somewhat hawkish now that the economy has made progress towards the Fed’s goals and as policymakers seem somewhat unfazed by delta variant risks. As expected, the Fed made no changes with interest rates or rate guidance. The statement did not bring up any delta variant concerns, instead focusing on improving economic activity and employment due to progress with vaccinations and strong policy support. It wasn’t all hawkish as inflation is still transitory for them. Before substantial progress is reached, Fed watchers need to hear the Fed say progress has…