Federal Reserve Chairman Jerome Powell speaks Wednesday following the central bank’s two-day policy meeting. The Federal Reserve announced on Wednesday that it will keep interest rates near zero for years until the U.S. economy heals from the effects of the Covid-19 pandemic and the labor market normalizes. The Federal Open Market Committee will provide its quarterly update on where it sees GDP, unemployment and inflation heading. It also will take up the issue of whether it should provide clearer guidance on what it will take to raise rates in the future, and it could switch its bond-buying strategy to go beyond supporting market functioning to one that backstops the broader economy as well.
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Fed Chairman Jerome Powell speaks on monetary policy amid Covid-19 pandemic – 9/16/2020