The Federal Reserve System (Fed, Federal Reserve), the central bank of the United States, announced its position to maintain a 'zero interest rate' for the time being on the 29th (local time).
The Fed concluded its regular meeting with the Federal Open Market Committee (FOMC) on this day and said in a statement, "The public health crisis is strongly pressing economic activity, employment and short-term prices." It is said that it is frozen at 0.00 ~ 0.25%.
The decision was unanimous.
He said, "We will keep the range of interest rates until we are convinced that the economy has overcome the recent situation and is on track to achieve the goals of 'maximum employment' and 'price stability'."
It also reaffirmed its position to take all measures to support the economy.
It is interpreted to mean that the standard interest rate will be frozen until the shutdown of economic activity caused by the new coronavirus infection (corona19) is resolved and the real economy normalizes.
Earlier, the Fed cut its benchmark interest rate by 1 percentage point from 1.00 to 1.25% to 0.00 to 0.25% on the 15th of last month.
(yunhap news)
Fed maintains zero interest rates… "Freezing interest rates until economic normalization"
2020-04-29T18:26:59.426Z
The Federal Reserve System, the central bank of the United States, said it would maintain a 'zero interest rate' for the time being on the 29th. The Fed concluded its regular meeting with the Federal Open Market Committee on this day and said in a statement, "The public health crisis is strongly pressing economic activity, employment and short-term prices." It was frozen at ~ 0.25%.
Source: sbskr