Fed holds rates near zero, says economy has gotten better even with pandemic worries

The Federal Reserve on Wednesday held its benchmark interest rate near zero and said the economy continues to progress despite concerns over the pandemic spread. As expected, the Federal Open Market Committee concluded its two-day meeting by keeping interest rates in a target range near zero. Along with that, the committee reiterated its view that the economy continues to “strengthen.”… With the Fed likely on hold relative to interest rates at least until late-2022, investors have been looking for clues as to when the monthly bond purchases might start to be pulled back. … Heading into this week’s meeting, markets were pricing in zero chance of any rate increases this year, and a 54.4% chance of an increase before the end of 2022, according to CME’s FedWatch tool.
Source: CNBC – Bonds