Despite their September stumble, US stocks retain much of their gains since setting record highs less than two weeks ago. It has slashed short-term interest rates to record lows and bought up all kinds of bonds to support markets. Investors will be focused this week on the central bank’s latest interest rate and economic policy update on Wednesday, following a two-day meeting of policymakers. After the July meeting, the Fed kept its key interest rate unchanged at a record low near zero. Fed policymakers also pledged to keep rates low until they are confident that the economy has weathered the pandemic-induced recession.

Source: The Standard September 15, 2020 01:23 UTC