Vote to leave the federal fund's target rate in a range of 0% to 0.25% was unanimous
29 July 2020 - 20:21The US Federal Reserve on Wednesday stressed that the course of the coronavirus pandemic will be critical to the economic recovery.
"The coronavirus outbreak is causing tremendous human and economic hardship across the US and around the world," the committee said in its statement The vote, to leave the federal funds target rate in a range of 0% to 0.25%, was unanimous. The FOMC also reiterated its pledge to increase its holdings of Treasuries and mortgage-backed securities “at least at the current pace” over coming months.
That aggressive action has helped to calm investors. But progress towards recovery has been complicated in recent weeks by a new wave of coronavirus outbreaks across major states in the south and west US, including Texas, Florida, California and Arizona.
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