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Federal Reserve Will Hold Benchmark Interest Rates At Current Level
Summary: The Federal Reserve will hold benchmark interest rates at the current level, according to a release on Thursday, November 5. The bank also said it would continue increasing holdings of U.S. Treasurys and mortgage bonds at the current pace to sustain market functioning. "Weaker demand and earlier declines in oil prices have been holding down consumer ...
The Federal Reserve will hold benchmark interest rates at the current level, according to a release on Thursday, November 5.
The bank also said it would continue increasing holdings of U.S. Treasurys and mortgage bonds at the current pace to sustain market functioning.
"Weaker demand and earlier declines in oil prices have been holding down consumer price inflation," the Fed statement read.
The statement added that financial conditions remain steady and attributed that to policy measures to support the economy and the flow of credit to U.S. households and businesses. It went on to say that the nation's economic outlook will continue to depend on COVID-19.
By Emily Mason
Tags: COVID-19,inflation,The Federal Reserve
Link: Federal Reserve Will Hold Benchmark Interest Rates At Current Level [Copy]
