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Washington (AP) - The US Federal Reserve (Fed) is determining its further monetary policy course in the midst of another corona wave.

The key interest rate, which is already in an ultra-low range of 0.0 to 0.25 percent, is unlikely to change today.

However, given the ongoing heavy burden on the US economy from the pandemic, the Fed could make adjustments to its billion-dollar asset purchases to support the economy.

Many economists at least expect that the central bank will create more clarity about the future course of the program.

"There is too much uncertainty not to act," says analyst Steve Englander of the Bank Standard Chartered, referring to the recently weaker data from the US labor market.

However, it is considered relatively unlikely that the Fed will expand its securities purchases and thus the glut of money with which the financial market is to be flooded and the economy boosted.

Smaller changes are expected, for example in the terms of the bonds to be bought by the central bank, or more specific information on how long and under what conditions the program will be continued.

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The Fed had already responded to the corona crisis in the spring with an unprecedented easing of its monetary policy.

The key interest rate was lowered to virtually zero, bonds were bought on a massive scale and loan programs for the economy were launched.

After a drastic economic downturn, the world's largest economy recovered strongly in the summer months.

But the recent significant increase in new corona infections threatens the catching-up trend - the latest labor market report has already given some cause for concern.

As a result, the pressure on the central bank is now increasing again.

It is true that hopes have recently increased that the corona crisis can be brought under control through vaccinations.

But it will take some time until then, and the winter months, with the impending new lockdowns, are seen as a major challenge and economic risk.

However, Federal Reserve Chairman Jerome Powell sees a need for action above all in the US Congress.

Monetary policy alone cannot guarantee economic recovery, Powell always emphasizes.

“For the renewed impetus for the economic recovery, one relies on the financial policy,” says Commerzbank economist Bernd Weidensteiner.

So far, however, the major US parties have not been able to agree on a new economic stimulus program.

Hopes have risen again recently, but an agreement is uncertain.

At least the Fed's key interest rate is unlikely to change for a long time.

According to the projections last published in mid-September, this should not change before 2023.

After the pandemic spilled over to the USA in March, the central bank lowered interest rates in two large steps to the current level.

"The Fed rate decision promises relatively little tension," says Dekabank's outlook.

© dpa-infocom, dpa: 201216-99-709009 / 2