WASHINGTON, June 10 — Despite glimmers of hope that the US economy has hit bottom, the Federal Reserve will be looking for more ways to support the recovery as its two-day policy meeting concludes today. The central bank already cut rates to zero in March and has been pumping trillions of dollars...
Federal Reserve Chairman Jerome Powell, who has pledged the Fed will use all of its tools to boost the economy, could be more explicit about ensuring interest rates remain at zero until clear targets for inflation and employment have been met. — Reuters pic
This week, it again expanded its planned Main Street lending programme for small and medium businesses, but on the final day of its two-day meeting, Fed Chair Jerome Powell is expected to make clear there is more policymakers can and will do. “Everything we do is focused on creating an environment in which... people will have their best chance to keep their job or get a new job,” Powell said recently.
“The Fed will welcome the improvement in employment we saw in May, but those gains will not be enough to stop members of the FOMC from worrying about the pace of the rebound in growth,” Diane Swonk of Grant Thornton said in an analysis.
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