Fed leaves interest rates unchanged | Sunday Observer

Fed leaves interest rates unchanged

1 August, 2021

New York (CNN Business) - The Federal Reserve left interest rates and monetary policy unchanged on Wednesday, pointing to the nation’s as yet incomplete economic recovery. “The path of economy continues to depend on the course of the virus,” the Central Bank said in a statement. While vaccinations are helping to limit the virus and its impact on the economy, the risk to the economic outlook still remains. Without being alarmist, Fed Chairman Jerome Powell couldn’t help but sounding somewhat concerned about the new variants of Covid-19.

“There’s no reason they just can’t keep coming...one more powerful than the next. We don’t know that, but that’s certainly a plausible outcome,” Powell told reporters during Wednesday’s press conference.