The Federal Reserve has promised to maintain zero interest rates until inflation rises

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Washington, Ta. 17 September 2020, Thursday

The US Federal Reserve has vowed to keep interest rates close to zero and has vowed to keep interest rates at zero as long as inflation does not continue to rise. The United States is improving, but at a slower pace, it needs support from policy and government spending.

Short-term interest rates will be in the range of 0 to 0.5 percent, Federal Open Market Committee Chairman Jerome Powell said in a statement after the two-day meeting. The committee's tone was to maintain this rate till 203.

The US economic growth forecast for the current full year, which was set to fall to 7.50 per cent in June, has now been modestly modified to 7.50 per cent. The GDP outlook for 2021, which was earlier 9 per cent, has now been reduced to 5 per cent.

The unemployment rate has also been revised from 7.50 per cent to 7.50 per cent. For 2020, the committee has raised its inflation projection to 1.50 per cent from 0.50 per cent in June.

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