The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken to protect public health are inducing sharp declines in economic activity and a surge in job losses. Weaker demand and significantly lower oil prices are holding down consumer price inflation. The disruptions to economic activity here and abroad have significantly affected ... (full story)

Federal Reserve officials restated their pledge to hold the benchmark interest rate near zero and will keep buying bonds, judging that the coronavirus pandemic “poses considerable risks to the economic outlook over the medium term.” The Federal Open Market Committee said in a unanimous statement Wednesday in Washington that it “will use its tools and act as appropriate to support the economy.” Officials Wednesday left unchanged their vague guidance on the future path of rates. The statement repeated language from March 15 saying the committee would keep the benchmark target range near zero “until it is confident that ... (full story)