Fed holds rates as US recovery falters

Jerome Powell
Jerome Powell

The Federal Reserve kept its key monetary policies unchanged on November 5, as chair Jay Powell noted signs the economic recovery was under threat.

The Federal Open Market Committee kept the Federal funds rate in the range of 0% to 0.25%. In a statement, the FOMC reiterated its views that rates will need to remain at this level until the labour market reaches maximum employment and inflation rises above the 2% target.

The Fed will continue its asset purchases “at least” at the current monthly

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