US Federal Reserve keeps interest rates near 0 amid COVID-19 fallout
In order to support the flow of credit to households and businesses, the Fed will continue to purchase Treasury securities and agency mortgage-backed securities "in the amounts needed" to support smooth market functioning, thereby fostering effective transmission of monetary policy to broader financial conditions.
US Federal Reserve on Wednesday kept its benchmark interest rate unchanged at the record-low level of near 0, as the COVID-19 fallout continues to ripple through the country, Photo: Reuters