The printing presses will keep on printing!
The Fed injected an unprecedented nearly $3 trillion into our economy over the last four months, and it’s just getting started.
The Federal Reserve announced today its plan to keep interest rates steady near zero, maintaining that the coronavirus pandemic is still a real threat to the U.S. economy.
Rates will remain near 0 – 0.25 percent, a level the Fed has maintained since mid-March.
It’s almost as though the Fed doesn’t quite recognize the 33.1% annualized growth that our economy logged last quarter…nor does it seem to recognize the strong employment numbers.
In a statement, the Central Bank said, “until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.”
So, game on.
The market loves it. Of course. The dow jones industrial average is up nearly 600 points.