The Fed keeps interest close to zero and pledges to help the economy

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Source: Arabic.net

The Fed kept interest rates close to zero again, with its pledge to do what was necessary to support the US economy.

For his part, the Fed confirmed its commitment to harnessing its various tools to support the economy in this difficult time, and to serve the achievement of its goals of maximum employment and price stability.

The Federal Reserve indicated that it will continue to buy treasury and mortgage bonds to ensure that interest rates remain low and to ensure that companies continue to lend easily.

Within weeks, the US economy moved from unprecedented low unemployment to about 30 million people applying for unemployment benefits, amid sharp declines in activity, the most since the Great Depression, with government authorities across the country closing large sectors of industry and trade to stem the spread of the Corona virus.







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