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Fed signals readiness to do more for economy as virus rages

MGN - Powell

WASHINGTON (AP) -- The Federal Reserve kept its benchmark interest rate at a record low near zero Thursday and signaled its readiness to do more if needed to support an economy under threat from a worsening coronavirus pandemic.

The Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months.

The central bank again pledged to use its "full range of tools to support the U.S. economy in this challenging time."

The economy in recent weeks has weakened after mounting a tentative recovery from the deep pandemic recession in early spring.

AP Economics Writer

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Associated Press

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