Fed keeps policy rate steady

Jerome Powell speaks at an online press briefing
Jerome Powell speaks at an online press briefing

The Federal Open Market Committee decided to maintain the US policy rate in the range of 0% to 0.25% after its March 16–17 meeting.

The federal funds rate has been at this level since March 2020. The FOMC also voted unanimously to continue the Fed’s quantitative easing programme. Monthly purchases remain unchanged, with $80 billion in Treasuries and $40 billion in mortgage-backed securities. 

Speaking to journalists today (March 17), Fed chair Jerome Powell sought to quash the notion that the

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