The Federal Reserve cut rates to zero in March and has been pumping trillions of dollars into the economy. Photo: AFPThe Federal Reserve cut rates to zero in March and has been pumping trillions of dollars into the economy. Photo: AFP
The Federal Reserve cut rates to zero in March and has been pumping trillions of dollars into the economy. Photo: AFP

Federal Reserve to keep rate at zero amid coronavirus pandemic damage

  • Central bank’s policy-setting committee projects US economy to contract by 6.5 per cent this year
  • Key rate to stay the same through 2022 at least, before edging back up near 2.5 per cent over longer term
Topic |   Coronavirus pandemic
The Federal Reserve cut rates to zero in March and has been pumping trillions of dollars into the economy. Photo: AFPThe Federal Reserve cut rates to zero in March and has been pumping trillions of dollars into the economy. Photo: AFP
The Federal Reserve cut rates to zero in March and has been pumping trillions of dollars into the economy. Photo: AFP
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