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Economy needs 'powerful support' for now -Fed's Powell

06/16/2021 | 04:06pm EDT

Powell did add, however, that elevated inflation readings mean it is time for the Fed to start considering when the removal of extra support will be warranted.

The Federal Reserve held its key lending rate near zero and will continue to purchase bonds in order to keep real interest rates low enough to spur further economic growth, Powell said after a two-day policy meeting.


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.71% 0.7343 Delayed Quote.-4.12%
BRITISH POUND / US DOLLAR (GBP/USD) -0.47% 1.38978 Delayed Quote.1.69%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.16% 0.8013 Delayed Quote.1.67%
EURO / US DOLLAR (EUR/USD) -0.18% 1.18684 Delayed Quote.-3.02%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.13% 0.013452 Delayed Quote.-1.96%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.49% 0.6974 Delayed Quote.-3.07%
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