The US Federal Reserve keeps interest rates unchanged

Yesterday, the US Federal Reserve (the central bank) kept interest rates unchanged in the range from zero to 0.25%.

The council said that the Corona pandemic (Covid 19) is currently causing enormous human and economic difficulties throughout the United States and around the world, affirming in this context its commitment to using its full range It is one of the tools to support the US economy at this difficult time and thus to enhance the goals of employment and price stability.

The council's Federal Open Market Committee said in a statement that the ongoing public health crisis continues to weigh on economic activity, employment and inflation and pose significant risks to the economic outlook.

The statement added that the committee decided to keep the target range for the federal funding rate from zero to 0.25%.

and he explained that the committee expects that it will be appropriate to maintain this target range until labor market conditions reach levels consistent with the committee's estimates of the maximum employment level and the rise in inflation to level 2 %.

For his part, Federal Reserve Chairman Jerome Powell said in a press conference that the sufficient spread of vaccinations against the Coronavirus will lead to overcoming the pandemic, stressing that there is nothing More important to the economy now than getting people vaccinated.