Express
Fed Chair Jerome Powell Says Interest Rate Will Stay Near 0%
Summary: Federal Reserve Chairman Jerome Powell speaks at a press conference today and says the policy interest rate will remain bottom at near 0% until the economy heads towards recovery.
Federal Reserve Chairman Jerome Powell speaks at a press conference today and says the policy interest rate will remain bottom at near 0% until the economy heads towards recovery.
As the Fed expects an unprecedented downswing in economic activity of the second quarter, it is purchasing large amounts of treasury and agency mortgage-backed securities to support households, businesses, and market functioning.
Powell expects the reopening of the economy to be slow, as the depth and duration of the economic downturn are “extraordinarily uncertain.”
By Yiran Dai
Last Update:
Tags: Economy,Federal Reserve
Link: Fed Chair Jerome Powell Says Interest Rate Will Stay Near 0% [Copy]
Tags: Economy,Federal Reserve
Link: Fed Chair Jerome Powell Says Interest Rate Will Stay Near 0% [Copy]
