The US Federal Reserve kept interest rates close to zero

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Washington: At the end of a two-day meeting of the Federal Open Market Committee (FOMC) of the US Federal Reserve, the committee decided to keep the benchmark interest rate close to zero. Corona cases are rising again in the US due to the Delta variant and inflation is also going up.

Improvements in the economy depend on the status of the virus, but the impact of the public health crisis on the economy as a result of the vaccination program is diminishing, the committee said in a statement issued after the meeting.

Economic activity and employment indices remain strong, but the sectors affected by the pandemic have not yet fully recovered, the statement said.

Employment conditions in the US have not recovered as expected. "I want to see some strong employment figures before cutting the ખરીદી 150 billion monthly bond-buying program," Federal Chairman Jerome Powell told reporters after the meeting.

The two-day meeting discussed how to proceed to reduce the bond buying program before raising interest rates. Inflation has remained high due to temporary factors but is not an immediate risk, the statement said.


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