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