Fed promises to keep buying assets at current rate
Fed will hold accommodation in place for “however long it takes”, chair Jerome Powell says
The Federal Reserve kept its policy rate on hold at today’s (June 10) meeting and said its asset purchases will now continue at the current pace for the foreseeable future.
The pace of the asset purchases had been slowing, as market conditions have improved from the mid-March illiquidity and volatility strains.
The purchases will now continue “at least” at the current rate “to sustain smooth market functioning, thereby fostering effective transmission of monetary policy to broader financial
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