Federal Reserve Holds Rates, Asset Purchases Steady as Economic Activity Moderates

The Federal Reserve said Wednesday it would keep U.S. interest rates close to zero and continue its $120 billion-a-month bond-buying program. 

“The pace of the recovery in economic activity and employment has moderated in recent months,” the committee said in a statement released after the meeting of the Federal Open Market Committee (FOMC). “The path of the economy will depend significantly on the course of the virus, including progress on vaccinations.”

Other key points from the statement:

The low-interest-rate environment is thought to be a boon for bitcoin and other high-yield investments that can offer the market alternatives to bonds.

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