<Anchor> The
New York Stock Market fell overnight as the US central bank, the Federal Reserve, announced it would maintain its current zero interest rate.
It was
judged
that the economic recession caused by the corona is still not showing a remarkable recovery
.
In New York, correspondent Kim Jong-won reports.
<Reporter> The
Federal Reserve System, the central bank of the United States, held a regular meeting and decided to freeze the base rate at the current level.
It is the 7th freeze since March last year.
The Fed lowered the standard interest rate from the previous 1% level to 0% when concerns about the economic downturn came out due to the global pandemic of the Corona at the time.
In a statement, the Fed said economic activity and employment conditions have been recovering at a modest pace in recent months.
It is a better expression than the statement made last month while maintaining the zero interest rate saying that the rate of economic activity and employment recovery is far below the previous level, but it is predicted that it will take 2024 for the US economy to recover to pre-corona levels. This means that there is no visible recovery trend.
The New York Stock Exchange fell as the leading index fell by 2 percentage points during the week, disappointing with the Fed announcement today (28th).
In a statement, the Fed added to the existing statement that the future of the economy will depend on the progress of the virus, and that this includes the progress of the vaccine.
While the Biden administration is speeding up vaccination, it suggests that economic recovery is ultimately linked to the spread of the vaccine.