WASHINGTON—The Federal Reserve announced on April 28 that it would keep U.S. interest rates near zero as the pandemic “continues to weigh on the economy.” The Fed officials expect a temporary spike in inflation due to strong consumer spending as the economy continues to reopen.
Following a two-day meeting of the Federal Open Market Committee (FOMC), the U.S. central bank announced it would hold the federal funds rate at a range of zero to 0.25 percent, in line with expectations.
