Fed sees dim economic outlook as virus squeezes economy

THE FEDERAL RESERVE expressed concern Wednesday that the COVID-19 pandemic, "will weigh heavily on economic activity, employment and inflation" in the coming months. Above, Federal Reserve Chair Jerome Powell. / AP FILE PHOTO/JACQUELYN MARTIN
WASHINGTON (AP) – The Federal Reserve expressed concern Wednesday that the viral outbreak will act as a drag on the economy and hiring in the coming months and said it plans to keep its benchmark short-term interest rate pegged near zero. In a statement at the end of its policy-making meeting Wednesday, the Fed acknowledged that the…

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