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US Fed keeps rates unchanged and pledges to maintain it till economy improves

Amala Balakrishner
Amala Balakrishner4/30/2020 10:29 AM GMT+08  • 3 min read
US Fed keeps rates unchanged and pledges to maintain it till economy improves
“We’re not going to be in any hurry to withdraw the measures or to lift off. We’re going to wait until we’re quite confident that the economy is well on the road to recovery,” says Fed Chairman Jerome Powell
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SINGAPORE (Apr 30): The US Federal Reserve has voted to keep interest rates unchanged in its policy meeting on Apr 29.

The 17-member committee has maintained the benchmark lending rate at the target range of between 0% and 0.25%, which was set in its emergency rate cut on Mar 15.

The central bank has also pledged to keep rates near zero till unemployment levels improve, and the US’ inflation rate returns to 2%.

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