The US Federal Reserve System (FRS) has kept the target range for the federal funds rate at 0-0.25% a year, reports TASS, referring to the statement of the regulator.
It is noted that they plan to maintain this range 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.
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Federal Reserve System, Interest rate, Zero interest-rate policy
World news – US – US Federal Reserve kept interest rate at 0-0.25% a year