> U.S. interest rates will stay near zero for at least three years as the Federal Reserve enacts measures to prop up the economy.
Needs a (2020) in the title--a lot has changed since Oct 2020.
A much better source for this type of information is the Federal Reserve database itself (FRED) [0].
Contrary to the article's statement that "Fed Chairman Paul Volcker raised interest rates to record highs," the Federal Reserve does not raise or lower interest rates directly, nor does it set them. It sets a target for the federal funds rate, and attempts to achieve it through open market operations (buying and selling of government debt). It might seem pedantic but it is a crucial concept that sadly very few people either learned or remember, let alone communicate effectively, and it hampers the ability to discuss how the economy works in reality.
Needs a (2020) in the title--a lot has changed since Oct 2020.
A much better source for this type of information is the Federal Reserve database itself (FRED) [0].
Contrary to the article's statement that "Fed Chairman Paul Volcker raised interest rates to record highs," the Federal Reserve does not raise or lower interest rates directly, nor does it set them. It sets a target for the federal funds rate, and attempts to achieve it through open market operations (buying and selling of government debt). It might seem pedantic but it is a crucial concept that sadly very few people either learned or remember, let alone communicate effectively, and it hampers the ability to discuss how the economy works in reality.
0: https://fred.stlouisfed.org/series/DFF