Fed Pledges Low Rates for Years, and Until Inflation Picks Up



Fed officials are mulling when and how to update their asset purchase program, and said Wednesday that they would maintain purchases at “at least” their current pace to “sustain smooth market functioning and help foster accommodative financial conditions.” The Fed updated its Summary of Economic Projections, a set of estimates for how the economy and interest rates will develop in coming years. Officials saw unemployment ending 2020 at a lower rate: The median official expects the… Fed Pledges Low Rates for Years, and Until Inflation Picks Up