Finance

Fed minutes released

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Federal Reserve officials called into action to rescue the economy from the clutches of the coronavirus worried about longer-lasting impacts from the pandemic including a second round of infections and the burden that low-income households would face, minutes released Wednesday from the central bank’s April meeting showed.

The meeting, which ended April 29, concluded with the central bank’s policymaking arm holding steady on interest rates and pondering future measures ahead.

After slashing its benchmark rate to near zero as the coronavirus pandemic took hold, the Federal Open Market Committee voted to keep the rate there in a range between 0% and 0.25% and not move it until a recovery is…



Source cnbc.com

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