Fed Signals Rates Will Stay Near Zero for at Least Three Years


Fed Signals Rates Will Stay Near Zero for at Least Three Years


Fed Chair Jerome Powell and others have stressed in recent weeks that the U.S. recovery is highly dependent on the nation’s ability to better control the coronavirus, and that further fiscal stimulus is likely needed to support jobs and incomes.

(Bloomberg) -- The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the U.S. economy recover from the coronavirus pandemic.

The Federal Open Market Committee “expects to maintain an accommodative stance of monetary policy” until it achieves inflation averaging 2% over time and longer-term inflation expectations remain well anchored at 2%, the central bank said in a statement Wednesday following a two-day policy meeting.


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- - Volume: 8 - WEEK: 39 Date: 9/22/2020 8:22:17 AM -