With the economy still experiencing significant disruptions due to the coronavirus pandemic, the Federal Reserve will maintain the target range for the federal funds rate at 0 to 0.25%, the Federal Open Market Committee announced today.
As the coronavirus pandemic continues in the U.S., there remain “an extraordinary amount of uncertainty and considerable risks to the economic outlook,” according to members of the Federal Reserve’s Federal Open Market Committee.
In response to the continuing tremendous human and economic hardship caused by the coronavirus pandemic…
As expected, the Federal Reserve announced today that it would hold the target range for the federal funds rate at 0 to 0.25% as the U.S. continues to weather the economic challenges of the coronavirus pandemic.
Members of the Federal Reserve Open Market Committee said they expect economic activity in the second quarter to “decline at an unprecedented rate” as the coronavirus pandemic persists in the U.S., with the heaviest burden likely to fall on the “most vulnerable and financially constrained households in the economy.”
With the coronavirus pandemic causing tremendous strain on human and economic activity, the Federal Open…
With the coronavirus pandemic continuing to cause significant economic disruptions and sharp spikes in unemployment, the Federal Reserve will maintain the target range for the federal funds rate at 0 to 0.25%.
The near-term U.S. economic outlook “deteriorated sharply” and became “profoundly uncertain,” prompting the Federal Open Market Committee to drop interest rates to near zero over the course of two unscheduled policy actions in early and mid-March
In its most sweeping move yet to prop up the U.S. economy amid the coronavirus pandemic and public health response, the Federal Reserve this morning unveiled several new facilities to support the flow of up to $300 billion in financing to households and businesses and committed to quantitative easing “in amounts needed” to support market functioning.
Noting that U.S. banking firms “have built up substantial levels of capital and liquidity in excess of regulatory minimums and buffers,” the Fed also encouraged banks to use their capital and liquidity buffers to lend to coronavirus-affected borrowers.