Fed chair says it could raise interest rates next year, as long as the Covid crisis is contained
The Federal Reserve signaled on Wednesday that it may start cutting its enormous pandemic stimulus programs as soon as November and could raise interest rates next year.
The US central bank left interest rates unchanged at near zero after its latest meeting. Rates were cut in March 2020 as the US economy reeled from the impact of the pandemic. But the Fed also indicated it may soon start pulling back on the $120bn in monthly asset purchases program that it started when the coronavirus hit the US.
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