The US Federal Reserve kept interest rates unchanged today, at a record low, close to zero, with the continued repercussions of the new Coronavirus (Covid-19) disease in the country.
The Federal Reserve said in a statement after the conclusion of the two-day monetary policy meeting, "The current public health crisis will severely affect economic activity, employment and inflation in the near term, and pose significant risks to economic prospects in the medium term," adding that the Federal Reserve´s Policy Development Committee I decided to keep the target range for the federal interest rate at 0-0.25 percent.
"The committee expects to maintain this target range until it is confident that the economy has exceeded recent events and is on the path towards achieving maximum employment targets and price stability," the council said.
