Fed commits to keep buying bonds until ‘substantial’ employment rebound
Committee unanimously keeps the federal funds target rate in a range of zero to 0.25%, where it’s been since March
16 December 2020 - 21:49
Washington — The Federal Reserve strengthened its commitment to support the US economy, promising to maintain its huge asset purchase programme until it sees “substantial further progress” in employment and inflation.
At their final meeting of a tumultuous year, policymakers led by chair Jerome Powell on Wednesday voted to maintain monthly bond purchases of at least $120bn and scrapped their previous pledge to keep buying “over coming months”...
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