Fed officials have repeatedly stressed that their robust support will stay in place until they can point with confidence to a repaired labor market and improvement in other areas of the economy. Leaders have kept rates near zero and continue to buy at least $120 billion of Treasury bonds and mortgage-backed securities each month. Federal Reserve Chair Jerome H. Powell and other central bank officials are working to see major progress in the labor market, which is still down millions of jobs since February last year.

Source: Washington Post May 11, 2021 16:58 UTC