The US central bank, the Federal Reserve System, has maintained a’zero interest rate’.
The Fed said in a statement issued on the 16th local time after a two-day regular meeting of the Federal Open Markets Committee (FOMC) that it would freeze the interest rate at the current 0-0.25%.
The decision was made with the unanimous approval of the members, but the same position was reaffirmed at the 6th meeting of the Federal Open Market Committee, which was held since the zero interest rate was decided to respond to the Corona 19 incident in March.
In a statement, the Fed agreed to maintain the target range of 0-0.25%. “It is important to keep the target range until labor market conditions reach a level consistent with the Federal Open Markets Commission’s assessment of maximum employment and inflation. I expect it to be appropriate.”
A number of members of the Federal Open Markets Commission have predicted that zero interest rates will remain until 2023.
However, it also presented an optimistic outlook that the US economy will grow higher than it was originally.
The Fed has decided to continue supporting financial markets, such as buying bonds, until the economy makes significant progress.
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