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| Version 0 | Version 1 |
|---|---|
| US Fed sees 'easing' of recession | US Fed sees 'easing' of recession |
| (20 minutes later) | |
| The Federal Reserve has said the recession in the US is "slowing" but the economy is likely to remain weak. | |
| The central bank kept interest rates unchanged and said they would remain at its current low range of between zero and 0.25% for an "extended period". | The central bank kept interest rates unchanged and said they would remain at its current low range of between zero and 0.25% for an "extended period". |
| The Fed also said it would continue its present level of purchasing long-term government debt to expand money supply. | |
| It expects inflation to stay "subdued for some time" even though energy and commodity prices have risen recently. | It expects inflation to stay "subdued for some time" even though energy and commodity prices have risen recently. |
| "Information received since the Federal Open Market Committee (FOMC) met in April suggests that the pace of economic contraction is slowing," the bank's policymakers said. | |
| "Although economic activity is likely to remain weak for a time, the Committee continues to anticipate that policy actions to stabilise financial markets and institutions, fiscal and monetary stimulus, and market forces will contribute to a gradual resumption of sustainable economic growth in a context of price stability." | "Although economic activity is likely to remain weak for a time, the Committee continues to anticipate that policy actions to stabilise financial markets and institutions, fiscal and monetary stimulus, and market forces will contribute to a gradual resumption of sustainable economic growth in a context of price stability." |
| The FOMC voted unanimously to maintain its base rate, as had widely been expected. |