(Feds) Jerome Powell promises 'zero rates' until economy has 'weathered' pandemic.....

washingtonexaminer. ^ | 4/29/2020 | Jay Heflin

[caww]

Federal Reserve Chairman Jerome Powell said Wednesday that he anticipates the central bank will target short-term interest rates near zero until the dangers posed by the pandemic have passed.

“We are not changing that guidance today. That means we’re going to be very patient. That means we’re not going to be in any hurry to move rates up,” he said.

The central bank last cut its interest rate target on March 15 to between 0% and 0.25% in an emergency response to the pandemic. Powell said these rates would not change until the nation has been able to contain the spread of the coronavirus.

“We said that we’ll keep our rates where they are until we’re confident that the economy has weathered the effects of the outbreak and is on track to achieve our goals,” he said.

This is the time to use the great fiscal power of the United States to do what we can to support the economy and try to get through this with as little damage to the longer-run productive capacity of the economy as possible,” he said.

[Jeff Chandler]

We got a pretty good interest rate on a refi.

Don’t let a crisis go to waste.

[caww]

I’m getting a new stove and range vent! and may even do a refigerator as well. Also taking up carpet for new flooring once all the walls are painted! and a New entry door!

We’ll never see another time as good as this for home improvement!