Federal Reserve keeps interest rates near zero

Federal Reserve keeps interest rates near zero

The Fed left its short-term interest rate between 0% and 0.25% in effort to offset the impact of the pandemic. The central bank said it would keep rates low until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goal. Chairman Jay Powell said he expects an unprecedented drop in economic activity over next few months.

Chris
Chris
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