Fed Pledges Low Rates for Years, and Until Inflation Picks Up – Reports

The Fed’s Economic Projections Show Rates at Rock Bottom for Years

WASHINGTON — Federal Reserve officials expect to leave interest rates near zero for years — through at least 2023 — as they try to coax the economy back to full strength in the wake of the pandemic-induced recession, based on their September policy statement and economic projections released Wednesday.

The announcement, which also reinforced the central bank’s August pledge to tolerate slightly higher price gains to offset periods of weak inflation, underscores that Chair Jerome H….

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