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The Federal Reserve Commits To Allowing Inflation To Grow Past 2%, Says Interest Rates Will Remain Near Zero Through 2023
Summary: The Federal Reserve plans to keep U.S. interest rates close to zero and will push inflation rates higher than 2% for the foreseeable future, according to new projections released on the second half of a two-day policy meeting on Wednesday, September 16. 13 officials projected that interest rates will remain near zero through the end of ...
The Federal Reserve plans to keep U.S. interest rates close to zero and will push inflation rates higher than 2% for the foreseeable future, according to new projections released on the second half of a two-day policy meeting on Wednesday, September 16.
13 officials projected that interest rates will remain near zero through the end of 2023. Rates will remain near zero until inflation has risen to 2% and is on track to moderately exceed 2% for some time, officials stated.
The S&P 500 rose 0.3% and the Dow Jones Industrial Average gained 0.7% following the announcement. Bitcoin's price jumped to $11,071.33 following the meeting at the time of writing is trading hands at $11,059.07 and is up 2.49%.
By Emily Mason
Tags: Bitcoin,BTC,Federal Reserve,inflation
Link: The Federal Reserve Commits To Allowing Inflation To Grow Past 2%, Says Interest Rates Will Remain Near Zero Through 2023 [Copy]
