The Federal Reserve kept interest rates at record lows

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Washington, Ta. Thursday, January 28, 2021

In addition to the growing case of Corona, the US Federal Reserve has kept the benchmark interest rate at a record low of zero in view of the slowdown in the economy.

The direction of the economy is still dependent on the status of the Cora virus, Federal Chairman Jerome Powell told a virtual press conference. The recent rise in corona cases, hospitalizations and deaths in the United States has put millions of Americans in trouble and has had a serious impact on economic activity and job creation.

Powell noted that it has slowed down in recent months after seeing a strong recovery in economic activity last summer, according to press reports.

Speaking to reporters at the end of the first meeting of the Federal Open Market Committee in 2021, he said the economy was still far from our target of employment and inflation and it would take some time to make progress.

At the end of the policy meeting, the Fed decided to keep the interest rate in the range of 0-0.5 per cent.

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