Fed confirms no rate increase before late 2022

The United States Federal Reserve has predicted that interest rates will remain close to zero until the end of 2022 at the earliest and that unemployment levels will take years to return to pre-coronavirus pandemic levels. All but two Fed officials predicted the main interest rate would remain close to zero through 2022, with chairman Jay Powell adding: "We are not thinking about raising rates. We are not even thinking about thinking about raising rates." The US central bank reaffirmed its commitment to "using its full range of tools to support the US economy" and would leave rates un...