Federal Reserve Board Chairman Jerome Powell. | Alex Wong/Getty Photos By ASSOCIATED PRESS 06/12/2020 11:35 AM EDT WASHINGTON (AP) — The F
WASHINGTON (AP) — The Federal Reserve has promised to make use of its “full vary of instruments” to tug the nation out of a deep recession brought on by a world pandemic, signaling that it will hold rates of interest low by means of 2022.
In its semi-annual financial coverage report back to Congress, the central financial institution mentioned Friday that the COVID-19 outbreak was inflicting “super human and financial hardship throughout the USA and all over the world.”
To fight these hardships, the Fed mentioned it is “dedicated to utilizing its full vary of instruments to assist the U.S. financial system on this difficult time.”