Fed Chairman Jerome Powell. (Photo: AP)
Lower for longer. That's been the Federal Reserve's approach to interest rates for quite some time, but today the central bank indicated it will be holding the federal funds rate within its current 0–0.25 percent range through 2022.
In a statement accompanying its latest economic projections, the Fed said it expected to maintain that range "until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals."
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
