Featured

Fed Holds Interest Rates Near Zero, Boosts Economic Projections

Fed Holds Interest Rates Near Zero, Boosts Economic Projections
Federal Reserve Chair Jerome Powell listens during a Senate Banking Committee hearing on Capitol Hill in Washington, D.C., on Dec. 1, 2020. Susan Walsh/Pool/AFP via Getty Images
Emel Akan
Emel Akan
Reporter
|Updated:

WASHINGTON—The Federal Reserve announced on March 17 that it would keep U.S. interest rates near zero as the pandemic continues to pose “considerable risks” to the economy. The central bank, however, made a significant upgrade to its forecasts to reflect the acceleration of economic recovery after the $1.9 trillion COVID-19 relief package.

“Following a moderation in the pace of the recovery, indicators of economic activity and employment have turned up recently, although the sectors most adversely affected by the pandemic remain weak,” the Federal Open Market Committee’s (FOMC) revised statement reads.

Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
twitter
Related Topics