Fed remains in crisis-fighting mode as recovery appears to moderate

Monetary policy likely on hold for foreseeable future; Fed chief Powell says vaccination program key to economy

The Federal Reserve on Wednesday left its key overnight interest rate near zero and made no change to its monthly bond purchases, pledging again to keep those economic pillars in place until there is a full rebound from the pandemic-triggered recession.

That hasn't happened, and US central bank policymakers flagged a potential slowing in the pace of the economic recovery in a statement released after the end of their latest two-day meeting.
 

"The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic," the Fed's