WASHINGTON—The Federal Reserve said the coronavirus pandemic poses considerable risks for the U.S. economy despite recent gains, and officials made no changes on Thursday to their commitment to provide sustained stimulus.
“The ongoing public health crisis will continue to weigh on economic activity, employment and inflation,” the central bank said in a policy statement after concluding a two-day meeting.
In September, Fed officials pledged to support the recovery by setting a higher bar to raise interest rates and by signaling it expected to hold rates near zero for at least three more years.
At that meeting, the Fed laid out three thresholds for raising rates, including evidence of a tight labor market, annual inflation of at least 2%, and forecasts that inflation would run moderately above 2%.
Officials didn’t make any changes to that policy on Thursday, leaving a press conference by Chairman Jerome Powell at 2:30 p.m. Eastern as the main focus for investors.
