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Sep 16, 2020
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The US Federal Reserve kept the interest rate at 0-0.25% per annum

The US Federal Reserve System (FRS) has kept the target range for the federal funds rate at 0-0.25% per annum, TASS reports, citing a statement from the regulator.

It is noted that this range is planned to be maintained until conditions in the labor market reach levels corresponding to estimates of maximum employment, and inflation growth - a target level of 2%.

The regulator also improved its forecast for a fall in US GDP in 2020 from 6.5% to 3.7%. In addition, the forecast for unemployment in the country was changed: from 9.3% to 7.6% in 2020 and from 6.5% to 5.5% in 2021.

Recall that the real GDP of the G20 countries in the second quarter of 2020 fell by a record 6.9% compared to the previous three months.

Earlier, US President Donald Trump said that he was pleased with the work of the chairman of the Federal Reserve System Jerome Powell and no longer raised the issue of his resignation.

Article Categories:
Economy
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