The Federal Reserve resumed a two-day meeting today that is expected to end with a statement emphasizing the U.S. economy’s delicate state, reports Reuters.
The Fed official told Reuters that the meeting resumed this morning at 9 a.m. A statement outlining the U.S. central bank’s thinking on the economy and monetary policy is due at about 2:15 p.m. today.
Economists expect the Fed to hold the overnight federal funds rate in a zero to 0.25 percent range, the level reached in December.
Not much is expected to change regarding plans to purchase $300 billion of longer-dated U.S. government bonds and $1.45 trillion of mortgage debt, an effort it has launched to drive down borrowing costs set in financial markets.