Fed expects to hold interest rates near zero through 2023 to bolster US economy

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Fed expects to hold interest rates near zero through 2023 to bolster US economy

The Federal Reserve concluded its final policy-setting meeting before the November presidential election on Wednesday with a renewed pledge to continue taking aggressive action to support the U.S. economy during the coronavirus-induced downturn. The U.S. central bank, as widely expected, held the benchmark federal funds rate at a range between 0 percent and 0.25 percent, where it has been since mid-March. Updated guidance shows that Fed officials expect rates to remain near-zero through 2023.

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