Fed Pledges Low Rates for Years, and Until Inflation Picks Up

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WASHINGTON — Federal Reserve officials expect to leave interest rates near zero for years — through at least 2023 — as they try to coax the economy back to full strength after the pandemic-induced recession, based on their September policy statement and economic projections released Wednesday.

The Fed, in a significant update to its official policy statement, also reinforced its August pledge to tolerate slightly higher price gains to offset periods of weak inflation, underscoring that its chairman, Jerome H. Powell, and his colleagues plan to be extraordinarily patient as they try to cushion the economy in the months and years ahead.

Read the full article here: The Fed’s latest forecast…

 

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