The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero until the economic recovery gains ground.
As the federal government rolls out a mass vaccination plan and weighs additional stimulus in the midst of the coronavirus crisis, the central bank is keeping its commitment to help everyday Americans through the pandemic.
That means rock-bottom rates will stick around, for now.
“Even if everyone gets the vaccine, it will take a while for the economy to get rolling again,” said Yiming Ma, an assistant finance professor at Columbia University Business School.
“That will happen, but the time horizon is not likely to be this year,” she added. “Take this time to…