Federal Reserve officials restated their pledge to hold the benchmark interest rate near zero and will keep buying bonds, judging that the coronavirus pandemic "poses considerable risks to the economic outlook over the medium term."
The Federal Open Market Committee (FOMC) said in a unanimous statement Wednesday in Washington that it "will use its tools and act as appropriate to support the economy."
Officials Wednesday left unchanged their vague guidance on the future path of rates. The statement repeated language from March 15 saying the committee would keep the benchmark target range near zero "until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals."
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