The U.S. Federal Open Market Committee (FOMC) left the target range for the federal funds rate at 0-0.25 percent, in line with the futures’ market expectations. The Committee noted that the ongoing coronavirus (COVID-19) pandemic represents short- and medium-term risks to the economic outlook. The target range is expected to remain at this level until the Committee is confident that the economy has weathered the storm, meaning full employment and inflation at/or near its 2 percent target. According to the Committee’s forecast the emergency rate level will remain in place at least through 2022.
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