Federal Reserve Maintains US Interest Rate At Zero To 0.25% Range - Statement

Federal Reserve Maintains US Interest Rate at Zero to 0.25% Range - Statement

WASHINGTON (UrduPoint News / Sputnik - 16th September, 2020) The Federal Reserve's Federal Open Market Committee said on Wednesday that it has decided to maintain the US interest rate at the zero to 0.25 percent range.

"The Committee decided to maintain the target range for the federal funds rate at zero to 1/4 percent," the statement said.

"In addition... the Federal Reserve will increase its holdings of Treasury securities and agency mortgage-backed securities at least at the current pace to sustain smooth market functioning and help foster accommodative financial conditions, thereby supporting the flow of credit to households and businesses."