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Fed Signals Rates to Stay Near Zero for at Least Three Years
Posted
September 16, 2020
Views
1,497
Likes
11
Engagement
0.73%
September 16, 2020
1,497
11
0.73%
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1:10:37Now PlayingThe Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the U.S. economy recover from the coronavirus pandemic.
The Federal Open Market Committee “expects to maintain an accommodative stance of monetary policy” until it achieves inflation averaging 2% over time and longer-term inflation expectations remain well-anchored at 2%, the central bank said in a statement Wednesday following a two-day policy meeting.
The statement reflects the central bank’s new long-term policy framework in which officials will allow inflation to overshoot their 2% target after periods of under-performance. That shift was announced by Powell last month at the central bank’s annual Jackson Hole policy conference.
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