Federal Reserve officials restated their pledge to hold thebenchmark interest rate near zero and will keepbuying bonds, judging that the coronavirus pandemic "poses considerable risksto the economic outlook over the medium term."

The Federal Open Market Committee (FOMC) said in a unanimousstatement Wednesday in Washington that it "will use its tools andact as appropriate to support the economy."

Officials Wednesday left unchanged their vague guidance on thefuture path of rates. The statement repeated language from March 15saying the committee would keep the benchmark target range nearzero "until it is confident that the economy has weathered recentevents and is on track to achieve its maximum employment and pricestability goals."

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.