The Federal Reserve said Wednesday the coronavirus pandemic already has caused “tremendous” health and economic hardship, and warned the damage to the US economy will continue along with high unemployment.
fed interest rate
Fed Keeps Rates Unchanged, Says Inflation Pressure Is Low
The Federal Open Market Committee, or FOMC, just wrapped up its two-day meeting. As expected, the federal funds rate remained the same, but that doesn’t mean that nothing significant happened. In fact, some potentially dovish language has been added to the committee’s statement, which may reduce the probability of further interest rate hikes.