The powerful Federal Open Market Committee of the U.S. central bank said
Wednesday it will continue holding interest rates at historic low
levels and continue buying $85 billion in debt securities every month
until the unemployment rate falls.
The FOMC said it will keep the federal funds rate at 0 percent to
0.25 percent as long as unemployment is above 6.5 percent. It is
currently at 7.6 percent.Further, the rate-setting panel said it will continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month.
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