Fed vows to use ‘full range of tools’ to boost economy



WASHINGTON (AP) — The Federal Reserve has promised to use its “full range of tools” to pull the country out of a deep recession caused by a global pandemic, signaling that it would keep interest rates low through 2022.

In its semi-annual monetary policy report to Congress, the central bank said Friday that the COVID-19 outbreak was causing “tremendous human and economic hardship across the United States and around the world.”

To combat those hardships, the Fed said it’s “committed to using its full range of tools to support the U.S. economy in this challenging time.”



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