US Fed reiterates pledge to use all tools to help economy

MG News | November 06, 2020 at 12:45 AM GMT+05:00

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November 05, 2020: The Federal Reserve on Thursday restated its pledge to use all its tools to help the US economy recover from the coronavirus pandemic, but did not announce any new measures.

"The path of the economy will depend significantly on the course of the virus," the policy-setting Federal Open Market Committee said in a statement at the end of its two-day meeting.

"The ongoing public health crisis will continue to weigh on economic activity, employment and inflation in the near term, and poses considerable risks to the economic outlook over the medium term."

While activity and employment have continued to recover, the FOMC said it remains "committed to using its full range of tools to support the US economy in this challenging time."

AFP/APP

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