The Federal Reserve left interest rates unchanged (near zero) amidst a projected gradual economic recovery from the recession.
New forecasts predict a slower economic recovery than the Trump administration seems to expect.
In the post-meeting statement that accompanied the data outlook, the fed said that “The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term.”
The Fed also indicated that it will continue buying government-backed debt “at least at the current pace” to sustain market functioning, and that it “will closely monitor developments and is prepared to adjust its plans as appropriate.”
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