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Dovish Powell Sees Fed Keeping Foot on Gas Until Jobs Come Back

  • Fed maintains Treasuries, MBS buying at least at $120b a month
  • Says virus continues to pose considerable risks to the economy
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Powell Says Fed Will Keep Using Emergency Lending Powers Forcefully
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Federal Reserve Chairman Jerome Powell sent a powerful message Wednesday that the central bank will keep pumping stimulus into the U.S. economy until its traumatized labor market has healed from the harm of the coronavirus pandemic.

“We’re not even thinking about thinking about raising rates,” he told a video press conference after the Federal Open Market Committee held its key interest rate near zero and almost all officials forecast keeping it there through 2022.