The Federal Reserve today pledged to keep interest rates near zero until the U.S. economy has made it through the coronavirus pandemic, underscoring the deep economic pain radiating through the country
The Federal Reserve on Wednesday pledged to keep interest rates near zero until the U.S. economy has made it through the coronavirus pandemic, underscoring the deep economic pain radiating through the country.
“The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world,” the central bank’s rate-setting committee said in a statement after meetings this week. “The virus and the measures taken to protect public health are inducing sharp declines in economic activity and a surge in job losses.
“The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term,” it said.
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