WASHINGTON (Pakistan Point News / Sputnik - 10th June, 2020) The Federal Reserve left US interest rates unchanged on Wednesday in a range of zero to 0.25 percent after the economy shrank its most in over a decade during the first quarter due to the impact of the coronavirus pandemic.
"In light of these developments, 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 (FOMC) meeting for June. "The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals."
