US Federal Reserve likely to renew vow to use all tools to support economy

The statement could reflect a sharp downgrade in the Fed's assessment of the job market, household spending, and energy markets

The Federal Reserve, which has pumped trillions of dollars in emergency funding into the US financial markets to stem the damage from the coronavirus pandemic, is expected to reiterate on Wednesday its promise to do whatever it takes to support the world's largest economy.

The US central bank may also signal how long, and by what benchmark, it plans to leave interest rates near zero after the recovery begins from what many economists forecast will be the sharpest downturn in recorded US history.

What no one is expecting from policymakers at this meeting is a detailed forecast for the economy, given