Fed keeps interest rate unchanged Financial

The Fed emphasized in its statement that the corona virus poses a significant risk to the medium-term outlook. The central bank also pointed out that weaker demand and lower oil prices are depressing inflation.

Wall Street slipped slightly in response to the statement, but remained on a nice profit.

Fed Chairman Jerome Powell said during his press conference that the pandemic could cause long-term economic damage and that the Fed is in no rush to raise interest rates.

For many in the financial world, Powell cannot go wrong. Even President Donald Trump’s criticism is almost silent.

–