The U.S. central bank held the benchmark federal funds rate at a range between 0% and 0.25%
By Megan Henney
FOXBusiness
The Federal Reserve said Wednesday that it would maintain ultra-low interest rates and reaffirmed its commitment to other easing policies even as the U.S. economic recovery from the coronavirus pandemic rapidly strengthens.
The U.S. central bank, as widely expected, held the benchmark federal funds rate at a range between 0% and 0.25%, where it has been since March 2020, when COVID-19 forced an unprecedented shutdown of the nation’s economy. Since June, the Fed has also been purchasing $120 billion in bonds each month, a policy known as “quantitative easing” that’s designed to keep credit cheap.
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