Economy, Americas

US Federal Reserve keeps interest rate unchanged

‘Progress on vaccinations has reduced the spread of COVID-19 in the US,’ central bank says

Ovunc Kutlu   | 16.06.2021
US Federal Reserve keeps interest rate unchanged

ANKARA

The US Federal Reserve said Wednesday that it kept its benchmark interest rate unchanged between the 0.00% - 0.25% range.

"Progress on vaccinations has reduced the spread of COVID-19 in the US," it said.

The Fed removed that the virus "is causing tremendous human and economic hardship across the US and around the world," from its previous statement.

"Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain,” was added.

The central bank reiterated that it will allow inflation to run above 2% for some time until labor market conditions improve and maximum employment is achieved.

The Fed also noted it will continue its asset purchase program to relieve the world's largest economy, in which the central bank buys at least $120 billion of bonds every month.



Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Related topics
Bu haberi paylaşın