BREAKING: Fed leaves rates near zero, vows to use 'full range' of tools to help economy
WASHINGTON - Federal Reserve policymakers on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the economy, saying the ongoing coronavirus pandemic will"weigh heavily" on the near-term outlook and poses"considerable risks" for the medium term.
"The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals," the U.S. central bank said in a statement at the end of a two-day policy meeting held via videoconference because of the coronavirus pandemic.
In a matter of weeks the U.S. economy has gone from historically low unemployment to seeing more than 26 million people file for unemployment benefits and the sharpest plunge in activity since the Great Recession as government authorities across the country shut down large swaths of industry and commerce to slow the spread of the novel coronavirus.
With so much uncertainty around the economic outlook, the Fed said it expects to maintain the target range for its benchmark overnight lending rate"until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals." Fed Chair Jerome Powell is scheduled to hold a press conference at 2:30 EDT to discuss the results of the meeting, which was the first since the Fed slashed interest rates to near zero and took other emergency steps to stabilize financial markets.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Fed seen making small changes to keep fed funds above zeroThe Federal Reserve is widely expected on Wednesday to lift the interest rates that influence its fed funds target, a technical move that could keep interbank lending running smoothly and help prevent financial market disruption should the benchmark rate fall below zero.
Lire la suite »
Fed holds rates near zero — here's what that means for youFor everyday Americans with good credit, historically low interest rates on mortgages and credit cards can be a lifesaver. Riskier borrowers will have to look elsewhere for relief.
Lire la suite »
Fed pledges to keep rates near zero until full employment, inflation come backFED DECISION: The Federal Reserve votes to leave interest rates unchanged, pledging to keep rates near zero until it is confident the U.S. economy is back on track.
Lire la suite »
Here's the latest Fed statementThis is Wednesday's Federal Open Market Committee statement after the latest Fed meeting.
Lire la suite »
Fed to Extend Loans to More Cities, CountiesThe Fed will loosen eligibility criteria for its local government lending program, allowing more than 200 cities and counties to participate
Lire la suite »
The Fed says it is expanding its municipal bond buying programThe central bank said the facility now will buy debt from counties and states with populations of at least 500,000 and cities with 250,000 residents or more.
Lire la suite »