Fed “not in any hurry” to raise interest rates: Powell

The Federal Reserve won’t push up interest rates any time soon, the central bank’s chairman said Wednesday as the U.S. economy shrank the most in over a decade. The Fed’s Federal Open Markets Committee said it was keeping the range of its benchmark interest rate between 0 percent and 0.25 percent after slashing rates twice in recent weeks as part of sweeping measures to contain the economic fallout of Covid-19. “The committee expects to maintain

source https://therealdeal.com/2020/04/29/fed-not-in-any-hurry-to-raise-interest-rates-powell/