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Added on the 18/03/2015 13:38:07 - Copyright : Euronews EN
The Federal Reserve will leave its key interest rate at zero "until we're confident that the economy has weathered recent events and is on track to achieve our maximum employment and price stability goals," says Fed Chair Jerome Powell during a press conference. SOUNDBITE
The US Federal Reserve holds interest rates at a 23-year high. "Today, the FOMC (Federal Open Market Committee) decided to leave our policy interest rate unchanged and to continue to reduce our securities holdings," announces US Fed Chair Jerome Powell. SOUNDBITE
"The median projection for real GDP growth stands at just 0.5 percent this year and next," says US Federal Reserve Chair Jerome Powell. SOUNDBITE
"The recovery is incomplete and risks to the economic outlook remain," US Federal Reserve Chair Jerome Powell says during remarks in Washington. SOUNDBITE
In March, the US Federal Reserve's lowering of interest rates fueled a housing boom. According to Business Insider, the Federal Housing Finance Agency says that the explosion shows no signs of subsiding. A seasonally adjusted index of prices rose 1.7% in September from the prior month, and prices jumped 7.8% from their year-ago period. Mortgage rates hit their thirteenth record-low of the year last week. The average 30-year fixed-rate mortgage rate fell to 2.72% from 2.84%. However, experts say the good times in the housing market aren't likely to last forever. We expect some moderation in the pace of housing starts in the face of the rapidly escalating health crisis, a faltering recovery, and softening labor market gains. Nancy Vanden Houten, Lead US economist, Oxford Economics
Federal Reserve keeps US interest rates unchanged