It has been snapping up government-backed bonds to keep markets functioning normally, and has rolled out a series of emergency credit programs aimed at ensuring that businesses and state and local governments can borrow money.Fed Leaves Rates Unchanged and Projects Years of High UnemploymentThe Federal Reserve ended its two-day meeting and provided new economic projections that show how the central bank is viewing the economy.

Tremendous progress being made, way ahead of schedule. The Federal Reserve intervened in financial markets for the second day in a row. Unemployment rocketed to 14.7 percent in April before easing to The central bank’s release came hours after the Organization for Economic Cooperation and Development put out “Extraordinary policies will be needed to walk the tightrope towards recovery,” said Laurence Boone, the O.E.C.D.’s chief economist.The Fed’s caution and the O.E.C.D.’s pessimism contrasts with the more optimistic tone Treasury Secretary Steven Mnuchin took while testifying before Senators on Wednesday. With coronavirus cases continuing to soar, the future direction of the economy is as uncertain as ever. The Federal Reserve will backstop credit markets through 2020, and is expected to pledge continued economic help at its Wednesday meeting. The Federal Reserve staff has lowered its forecast for second half GDP, according to minutes of the central bank’s July meeting released Wednesday. Get breaking news notifications via email. Federal Reserve officials indicated they expected the economic recovery from the pandemic-induced recession would be a slow one, with rates near zero for years.WASHINGTON — The Federal Reserve on Wednesday said it would leave interest rates near zero for the foreseeable future as the central bank projected high unemployment for several years and a long slog back from the pandemic-induced recession. Federal Reserve officials indicated they expected the economic recovery from the pandemic-induced recession would be a slow one, with rates near zero for years. Aug. 27, 2020 at 3:40 p.m. Illustration: Liz Ornitz/WSJA recession of ‘historic proportions’ could take another turn for the worse if a stalemated Congress fails to provide more financial aid to beleaguered workers and businesses hammered by the coronavirus pandemic, the presi...Chicago Fed President Charles Evans on Sunday said the stalled talks between White House officials and Congressional Democrats is “an unfortunate develpment” for the economyThe Federal Reserve is likely to take more steps to assist the economy but doesn’t have to rush in the wake of the better-than-expected July jobs report, economists said Friday.Cleveland Fed President Loretta Mester said Wednesday the labor market is weaker than the official statistics suggest.The economy began to pick up in June and that will continue for the rest of the year, said Federal Reserve Vice Chairman Richard Clarida on Wednesday.The U.S. trade deficit fell by 7.5% in June after a partial rebound in exports, but the flow of cross-border transactions remained depressed by the global coronavirus pandemic and are still a sore spot for the economy.Copyright © 2020 MarketWatch, Inc. All rights reserved. Fed Chairman Jerome Powell will speak next Thursday on how the central bank plans to achieve its targets of stable inflation and maximum employment once the coronavirus pandemic has ended.The Federal Reserve staff has lowered its forecast for second half GDP, according to minutes of the central bank’s July meeting released Wednesday.Only a handful of Blacks have ever served in positions of leadership at financial regulatory agencies, which is one reason why Blacks continue to lag far behind in personal wealth.The Federal Reserve should be given the job of helping to make the U.S. economy more just. The Federal Reserve announced on Sunday it would drop interest rates to zero and buy at least $700 billion in government and mortgage-related bonds as …

USA!” he Mr. Powell has emerged as a voice of economic caution since the pandemic took hold. The Fed cut interest rates to near zero in a series of back-to-back meetings in March. Along with the announcement, the Fed pledged that "the terms of … WSJ Explains. Straight from the newsroom to your inbox.Here are the major changes to the central bank's monetary policy strategy announced on Thursday. The Federal Reserve left rates unchanged on Wednesday and indicated that they’ll likely remain near zero until at least 2022 as the economy tries …

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