Fed Maintains Monetary Stimulus, Cites Moderating Recovery

• Federal Reserve officials left their benchmark interest rate unchanged near zero as they flagged a moderating U.S. recovery and reiterated a pledge to use all available tools to support the economy during the coronavirus pandemic.
• The central bank’s policy-making body also repeated it would maintain its bond-buying program at the current pace of $120 billion of purchases per month until “substantial progress” toward its employment and inflation goals has been made.
• The revised language followed reports showing U.S. employment fell in December for the first time since April, and retail sales tumbled for a third straight month, amid resurgent coronavirus outbreaks across the country.

(Source: Bloomberg)