The Federal Reserve announced that it kept interest rates near zero and indicated that they’ll likely remain there until at least 2022 by skleb1234
The Fed painted a grim view of the economy and said it would recover over the course of a few years: Unemployment will fall to 9.3% by the end of 2020—down from over 13% in May—and to 6.5% by the end of 2021, the Fed projected.
The Fed sees the economy contracting 6.5% this year, before rebounding somewhat and growing 5% in 2021. The central bank also committed to maintaining its unprecedented stimulus plan until the economy has “weathered” the negative impact of the coronavirus pandemic. The Fed promised not to reduce the pace of its quantitative easing as it plans to increase holdings of Treasury and mortgage-back securities over the coming months; it pledged to continue its extensive bond buying programs, “at least at the current pace” for the foreseeable future. including rate cuts, lending programs and credit facilities that have investors reassurance amid the coronavirus pandemic.
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