Jerome Powell says Fed is nowhere near exiting support for US economy
Powell says it will take ‘some time’ to achieve the threshold for altering asset purchases
27 January 2021 - 22:38
Washington — Federal Reserve chair Jerome Powell made clear the US central bank was nowhere near exiting huge support for the economy during the ongoing coronavirus pandemic, as officials left their benchmark interest rate unchanged near zero and flagged a moderating US recovery.
The central bank’s policymaking body repeated it would maintain its bond-buying programme at the current pace of $120bn of purchases per month until “substantial further progress” towards its employment and inflation goals has been made. It made no changes to the composition of purchases...
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