FOMC Releases

The ongoing public health crisis will weigh heavily on economic activity,
employment, and inflation in the near term, and poses considerable risks to the economic
outlook over the medium term. In light of these developments, the Committee decided to
maintain the target range for the federal funds rate at 0 to 1/4 percent.

The coronavirus outbreak is causing tremendous human and economic hardship
across the United States and around the world.

The Federal Reserve will continue to purchase Treasury
securities and agency mortgage-backed securities in the amounts needed to support smooth
market functioning and effective transmission of monetary policy to broader financial conditions.