Federal Reserve officials continue to project near-zero interest rates at least through 2023, while upgrading their economic outlook to reflect greater optimism about the U.S. recovery from Covid-19.
"Following a moderation in the pace of the recovery, indicators of economic activity and employment have turned up recently, although the sectors most adversely affected by the pandemic remain weak," the Federal Open Market Committee (FOMC) said in its policy statement Wednesday. "Inflation continues to run below 2 percent."
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