The New Paper

November 6, 2020

Fed to maintain interest rates near zero

The Federal Reserve committed to maintaining its benchmark interest rate near zero (at 0-0.25%) until labor market and economic conditions fully recover and stabilize. Fed chair Jerome Powell noted that while economic activity has continued to recover from the large coronavirus-driven downturn in Q2, the pace of improvement has moderated in recent months. The decision to hold interest rates near zero is consistent with prior announcements.

This story is from the November 6, 2020 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.