The US Federal Reserve left its benchmark interest rate unchanged on Wednesday.
It decided to keep the overnight lending rate at 0-0.25% and was unanimously adopted by the Fed’s Monetary Policy Committee.
The board said at its meeting that it has pledged to use all tools at its disposal to support the economy.
He explained that if progress towards employment and inflation targets continues as expected, he believes a moderation in the pace of asset purchases may be justified soon.
The Fed did not change its asset purchase policy, noting that it will continue to buy at least $ 80 billion a month in Treasury bills and $ 40 billion a month in mortgage-backed securities until “significant additional progress” is made towards full employment and target price stability.
Rising inflation, he said, reflects in largely transitory factors, while stressing that the course of the economy still depends on the path of the virus.
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