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12/16/2020, 8:00 PM (Source: TeleTrader)
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FOMC leaves interest rate unchanged

The Federal Open Market Committee on Wednesday announced that its members voted to keep the target range for the federal funds rate unchanged at 0.00-0.25%.

The central bank further decided to continue to purchase at least $120 billion in bonds each month "until substantial further progress has been made toward the Committee's maximum employment and price stability goals."

Regarding the state of the economy, the Fed reiterated that the recovery will depend on the course of the pandemic which still "[weighs] on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term."

Baha Breaking News (BBN) / MD