Fed expects to keep rates near zero through 2023 – Reports

Fed expects to keep rates near zero through 2023

Federal Reserve officials on Wednesday projected that they would keep interest rates near zero through 2023, as it aims to help the economy fully recover from the coronavirus pandemic.

The central bank expects the U.S. economy to shrink by 3.7 percent this year, a more optimistic forecast than its June estimate of a 6.5 percent contraction, but that number would still be much worse than 2009 — the worst year of the Great Recession — when GDP shrank by 2.5 percent.

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Fed policymakers now…

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