The Fed holds rates steady and indicates it will stay there for years.
The Federal Reserve kept its pledge to keep interest rates anchored near zero and pledged to keep rates there until inflation rises consistently.
In addition to the rates decision, the committee altered its outlook for GDP, unemployment and inflation for the coming years. The moves come amid stronger economic data during the third quarter. Most economists see a sharp rebound for the U.S. after it plunged into recession in February, a month before the World Health Organization declared the coronavirus a pandemic.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed expected to raise economic forecasts, extend vow to keep rates lowThe Federal Reserve is expected to wrap up its latest policy meeting on Wednesday with somewhat rosier economic forecasts but a renewed pledge to keep interest rates low for as long as the world's biggest economy needs to recover from its deepest downturn in decades.
Read more »
Trump’s Controversial Fed Nominee Judy Shelton Lacks Senate Votes, Thune SaysRepublicans are still hoping to garner the votes needed to confirm Shelton’s nomination to the Federal Reserve.
Read more »
Fed nominee Shelton doesn't yet have Senate support, Thune saysJudy Shelton, U.S. President Donald Trump's controversial pick to serve on the Federal Reserve's interest-rate-setting panel, does not currently have the votes to win confirmation in the U.S. Senate, Republican Senator John Thune said Tuesday.
Read more »
Asian stocks head higher on China data, markets eye Fed meetingAsian equities extended gains on Tuesday and the dollar slipped, with investor sentiment supported by Chinese data and optimism about COVID-19 vaccines.
Read more »
Here’s what changed in the new Fed statementThis is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policy-making meeting in July.
Read more »
Stock futures flat as investors await Fed meetingOn Tuesday, the Dow closed up marginally, after gaining more than 200 points earlier in the session.
Read more »