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FOMC Statement: Fed Holds Key Rate Steady as Coronavirus Spreads

July 31, 2020 by Rilian Ball

Wednesday’s post-meeting statement of the Federal Reserves Federal Open Market Committee reaffirmed its concern over the coronavirus pandemic and its impact on the economy and health of all Americans. The Committee voted to hold its benchmark target federal funds range at 0.00 percent to 0.25 percent. Analysts do not expect the Fed to raise its key interest rate more than once in the next three years. Federal Reserve Chair Jerome Powell said that the sharp increase in Covid-19 cases in … [Read more...]

Filed Under: Financial Reports Tagged With: COVID, Interest Rates, Pandemic

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