Fed: Rates to stay ultra-low even after inflation picks up

THE FEDERAL RESERVE announced that it plans to keep rates near zero even after inflation has exceeded the Fed’s 2% target level. Above, Fed Chairman Jerome Powell. / AP FILE PHOTO/JACQUELYN MARTIN
THE FEDERAL RESERVE announced that it plans to keep rates near zero even after inflation has exceeded the Fed’s 2% target level. Above, Fed Chairman Jerome Powell. / AP FILE PHOTO/JACQUELYN MARTIN
WASHINGTON (AP) – The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates near zero even after inflation has exceeded the Fed’s 2% target level. The change signifies that the Fed is prepared to tolerate a higher level of inflation than it generally has…

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