WASHINGTON – The US economy is showing signs of progress in its recovery, but not enough to end the easy money policies implemented last year, the Federal Reserve said on Wednesday.Widespread vaccinations have helped boost business activity and employment, though the sectors hardest hit by the Covid-19 pandemic “have shown improvement but have not fully recovered,” the Fed’s policy-setting Federal Open Market Committee (FOMC) announced following its two-day meeting.The central bank cautioned that “risks to the economic outlook remain” and said it will monitor the economy’s progress before pulling back on its bond buying programme.Noting its goal of returning to full employment and inflation above two percent over the longer term, “The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved,” the statement said.The FOMC offered no further hint on when it might pare back its bond buying, although Fed Chair Jerome Powell will have a chance to address […]
FED SAYS US ECONOMY SHOWING PROGRESS BUT NOT ‘FULLY RECOVERED’
