REUTERS: The Federal Reserve on Wednesday repeated a pledge to use its"full range of tools" to support the US economy and keep interest rates near zero for as long as it takes to recover from the fallout from the coronavirus outbreak, saying the path of the economy will depend significantly on the course of the virus.
Fed officials had been expected to spend some of their meeting debating whether and how to strengthen their so-called forward guidance, perhaps by promising there would be no changes to interest rates until the unemployment and inflation rates meet explicit benchmarks. Fed policymakers had hoped those measures would help contain the virus, allowing the economy to bounce back quickly, even as they fretted over the possibility that infections could resurge and blunt the economic recovery.
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