Federal Reserve officials left their benchmark interest rate unchanged near zero as they flagged a moderating U.S. recovery and reiterated a pledge to use all available tools to support the economy during the coronavirus pandemic. The central bank’s policy-making body also repeated it would maintain its bond-buying program at the current pace of US$120 billion of purchases per month until “substantial further progress” toward its employment and inflation goals has been made. It made no changes to the composition of purchases. “The pace of the recovery in economic activity and employment has moderated in … (full story)


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