Fed officials see economy ‘far from’ where it needs to be, meaning easy policy won’t change soon, minutes show


Federal Open Market Committee members at their most recent gathering reaffirmed that the central bank will be keeping policy loose well into the future, according to meeting minutes released Wednesday.

With the economy continuing to shake off the effects from the Covid-19 pandemic, the committee, which sets monetary policy for the Federal Reserve, kept policy unchanged.

That meant holding benchmark short-term borrowing rates near zero and maintaining the minimum $120 billion of asset purchases each month.

In a discussion over the Fed’s asset purchase program and interest rate policy, the minutes noted little chance for a change anytime soon.

“Participants noted that economic conditions were…


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