WASHINGTON (AP) — The Federal Reserve said Wednesday that it will keep buying government bonds until the economy makes “substantial” progress, a step intended to reassure financial markets and...
WASHINGTON (AP) — The Federal Reserve said Wednesday that it will keep buying government bonds until the economy makes “substantial” progress, a step intended to reassure financial markets ...
But central bank’s reluctance to further reduce borrowing costs could rile Donald Trump
The Federal Reserve slashed interest rates by half a percentage point on Tuesday, a bold attempt to give the US economy a jolt in the face of concerns about the coronavirus outbreak.
Despite optimism over coronavirus vaccine distribution, other economic signals have worsened.
Trump wants the Federal Reserve to lower interest rates to zero or below. That could mean lower borrowing costs but also meager bank savings rates.
America's central bank makes the biggest interest rate cut since the financial crisis.
The Federal Reserve is acting after a shortage of dollars in an obscure corner of the financial markets required intervention.
Economists had projected employers would add 150,000 jobs. The unemployment rate stayed at 3.7%, while wages grew 3.2% from a year earlier.
The median estimate of 4.2% growth next year completely offsets the projected slump of 2.4% from the coronavirus pandemic.
Investors will be watching closely in the coming days to see what else the central bank has to offer to help the economy.
WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and ...