The Federal Reserve kept up on Wednesday with its pledge to buy more assets to support the pandemic-hit US economy as it left interest rates unchanged at near zero
WASHINGTON (Pakistan Point News / Sputnik - 17th March, 2021) The Federal Reserve kept up on Wednesday with its pledge to buy more assets to support the pandemic-hit US economy as it left interest rates unchanged at near zero.
"The Committee decided to maintain the target range for the federal funds rate at 0 to 1/4 percent," the Fed said in a statement issued after the conclusion of its two-day Federal Open Market Committee meeting, the first for the year.
The central bank added that it will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month "until substantial further progress has been made toward the Committee's maximum employment and price stability goals."
