Jerome Powell signals Fed to keep buying bonds even as outlook improves

Federal Reserve Chairman Jerome Powell signaled that the central bank was nowhere close to pulling back on its support for the pandemic-damaged US economy even as he voiced expectations for a return to more normal, improved activity later this year.
 

“The economy is a long way from our employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved,” he said in the text of testimony to be delivered Tuesday to the Senate Banking Committee.
 

The Fed is currently buying $120 billion of assets per month -- $80 billion of Treasury securities