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Federal Reserve Announces That Interest Rates Will Remain Near Zero
Summary: After two-days of meetings the Federal Reserve announced on Wednesday, June 10 that interest rates will remain near zero and will likely stay there until 2022, as reported by Forbes. The United States economy is currently in poor condition, with the unemployment rate standing at 13.3%. However the Reserve projected that as the nation recovers ...
After two-days of meetings the Federal Reserve announced on Wednesday, June 10 that interest rates will remain near zero and will likely stay there until 2022, as reported by Forbes.
The United States economy is currently in poor condition, with the unemployment rate standing at 13.3%. However the Reserve projected that as the nation recovers from COVID-19 unemployment will drop to 9.3% by the end of 2020 and 6.5% by the end of 2021.
The bank also predicts the economy will deplete by 6.5% percent in 2020, before growing by 5% in 2021.
By Emily Mason
Tags: COVID-19,Federal Reserve,Interest Rates
Link: Federal Reserve Announces That Interest Rates Will Remain Near Zero [Copy]
