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Federal Reserve leaves rates near zero, sees coronavirus risks lingering

US stock markets pared some of the day's strong gains after the release of the statement

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In a matter of weeks the US economy has gone from historically low unemployment to seeing more than 26 million people file for unemployment benefits and the sharpest plunge in activity

Reuters

3 min read Last Updated : Apr 30 2020 | 12:14 AM IST

The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the US economy amid an ongoing coronavirus pandemic that will not only "weigh heavily" on the near-term outlook but poses "considerable risks" for the medium term as well.

"The Federal Reserve is committed to using its full range of tools to support the US economy in this challenging time, thereby promoting its maximum employment and price stability goals," the central bank said in a statement at the end of a two-day policy meeting held via videoconference.

In a matter of

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