Small and medium-sized banks could face stress from defaults on loans to small business and commercial real estate if consumers continue to avoid traveling and shopping, the Federal Open Market Committee said today.
As the coronavirus pandemic continues to cause tremendous human and economic hardship across the country the Federal Reserve will aim to achieve inflation “moderately above 2% for some time” the Federal Open Market Committee said today.
The Federal Open Market Committee today revised its monetary policy statement and long-run goals to reflect the challenges of operating in a persistent low-rate, low-inflation environment.
Certain segments of the economy were beginning to show improvement in recent days, but the trajectory of the economy overall will continue to depend on the course of the coronavirus, according to minutes from the most recent Federal Open Market Committee meeting released today.
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.”