Federal Reserve: Interest rates near zero

The US Federal Reserve has decided to keep rates steady in the midst of the coronavirus devastation. The latest policy update from the Federal Reserve’s Federal Open Market Committee is as expected, with Federal Reserve Chair Jerome Powell announcing that interest rates will hold near zero through 2022. The Fed’s propping up of markets in the US has posed an issue for China, which has decided to actively sell American debt securities. Meanwhile, the race is on for the head of the World Trade Organization, and the European Union is weighing in. The nomination process for the next director-general of the WTO began this week.

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