Fed Holds Interest Rates Near Zero as Outlook Remains ‘Highly Uncertain’

Chairman of the Federal Reserve Jerome Powell testifies during the Senate's Committee on Banking, Housing, and Urban Affairs hearing in Washington, on Sept. 24, 2020. Toni L. Sandys-Pool/Getty Images

WASHINGTON—The Federal Reserve announced on Nov. 5 that it would keep U.S. interest rates near zero as the ongoing public health crisis continues to pose “considerable risks” to the economy.

After the conclusion of the central bank’s two-day policy meeting, Fed officials said they would hold the federal funds rate at a range of zero to 0.25 percent, in line with expectations.