Fed Holds Policy Steady, Predicts Economy Will Bounce Back Later This Year ...Middle East

The Federal Reserve kept its policies in place, saying that business activity has softened due to spiking COVID-19 cases, but hoping that the widespread distribution of vaccines will heal the economy. In the meantime, the Fed is working to boost economic activity as much as possible, the Wall Street Journal reports. Last year, the Fed cut short-term interest rates to near zero, launched a bond-purchase program worth $120 billion a month and said it would maintain these measures until achieving its goal of lower unemployment and 2 percent inflation. What does this do, exactly? Low rates and bond purchasing are two measures to support borrowing, spending and investment, ultimately suppor

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Fed Holds Policy Steady, Predicts Economy Will Bounce Back Later This Year ...Middle East

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