Fed holds rates at near zero but projects two increases by the end of 2023
Fed pledges to continue asset purchases at $120bn a month until ‘substantial further progress’ in employment and inflation
16 June 2021 - 20:32
Washington — Federal Reserve officials held interest rates near zero but signalled they expect two increases by the end of 2023, pulling forward the date of lift-off as the economy recovers.
“Progress on vaccinations has reduced the spread of Covid-19 in the US,” the federal open market committee (FOMC) said in a statement released on Wednesday following the conclusion of its two-day policy meeting. “Amid this progress and strong policy support, indicators of economic activity and employment have strengthened.”..
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