Here's What the Fed Said in the Policy Meeting
On Thursday, the Federal Reserve announced that it would hold interest rates near zero, according to CNBC.
The move from the central bank was expected since the US economy is continuing to recover from the pandemic. There is some fear that the seasons changing will slow the economic recovery. Rising coronavirus cases in the US have also reinforced these fears.
The fed did note that the economy is still below pre-Covid levels. With no vaccine and a presidential election that has no outcome yet, Americans are right to be concerned about the future of the economy.
“Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year,” a statement from the Federal Open Market Committee said.