The Federal Reserve pledged on Wednesday, Jan. 27, to keep its low interest rate policies in place even well after the economy has sustained a recovery from the COVID-19 pandemic.
Fed officials kept their benchmark short-term rate pegged near zero and said they would keep buying Treasury and mortgage bonds to restrain longer-term borrowing rates and support the economy. They expect to keep the key short-term rate at a record low between zero and 0.25% through at least 2023.