U.S. Fed stands pat to continue to support pandemic-hit economy

Politics Economy Society

The U.S. Federal Reserve on Wednesday kept its monetary policy steady with interest rates near zero and its massive bond purchasing to continue to support the recovery of the pandemic-hit economy. After a two-day meeting of the policy-setting Federal Open Market Committee, the central bank said it will maintain its target range for the federal funds rate at 0 to 0.25 percent. The Fed also said it will continue to increase its holdings of Treasury securities by at least $80 billion per month and of mortgage-backed securities by at least $40 billion per month until "substantial further progress"...

Kyodo News

Kyodo News Society