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US Federal Reserve holds interest rates zero, signals increase in 2023

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US Federal Reserve holds interest rates zero, signals increase in 2023

timestampJun 17, 2021 authorAlShorts Web Desk

The US Federal Reserve held interest rates near zero but signalled they might raise it at a faster pace than assumed. Fed Chairman Jerome Powell also released a forecast, which anticipated two interest-rate increases by end of 2023 and they upgraded the estimate for inflation for the next three years. Meanwhile, the progress on vaccinations and strong policy support have strengthened economic activity and employment.

Latest News

UAE reports 1,550 new cases, five deaths due to COVID-19

Abu Dhabi Police to give convicts chance to do community service

India logs 43,509 new cases of COVID-19

India on UK's red list; no quarantine for vaccinated EU & US travellers

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