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The US Federal Reserve (Fed) left the reference rate unchanged between 0 and 0.25%. The Fed’s point chart, which is unanimous and does not take a decision beyond expectations, predicts the continuation of the zero interest policy until 2023.
Although the decision was made unanimously, the Fed reiterated its determination to use all means to support the US economy and said bond purchases would continue at the current pace.
“THE RECOVERY OF THE ECONOMY DEPENDS ON THE JOURNEY OF THE PANDEM”
In the statement released by the Fed, it was pointed out that weakening demand and low energy prices keep inflation below, verbal guidance continues in supportive monetary policy, the pandemic poses a significant risk to the economic outlook and the economic recovery path depends on the course of the coronavirus pandemic.
In the statement, which states that economic activity and employment continue to recover, it was stated that the level of the economy is below pre-pandemic levels and the pandemic will impact activity, employment and inflation in the next future.
“PANDEMIN HAS AN EFFECT ON INFLATION”
After the decision, Fed Chairman Powell told the meeting that he believed the bottom-up recovery of the economy accelerated with the reopening.
Powell said the increase in new cases is alarming. Stating that the pandemic had a severe impact on inflation, Powell said it is not possible to fully recover until people feel safe from the outbreak.
NO CHANGE IN DOLLAR / TL AFTER THE DECISION
After the decision, there was no change on the Dollar / TL front and the exchange rate was around 8.42.
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