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08Feb/21

Fed stresses its commitment to low rates as economy stumbles

first_imgWASHINGTON (AP) — The Federal Reserve pledged on Wednesday to keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic. The Fed said in a Thastatement after its latest policy meeting that the improvement in the economy and job market has slowed in recent months, particularly in industries affected by the raging pandemic. Fed officials kept their benchmark short-term rate pegged near zero and said they would keep buying Treasury and mortgage bonds to restrain longer-term borrowing rates and support the economylast_img read more