Fed’s Key Rate Slips Closer to Zero, Raising Prospect of Tweaks
Bloomberg News, April 30, 2021–Benjamin Purvis and Alex Harris (Subscription with limited free articles)
The key benchmark that the Federal Reserve targets to control monetary policy dropped for the first time this month. The effective fed funds rate, which the central bank is currently aiming to keep within a range of 0% to 0.25%, slipped by one basis point to 0.06% on Thursday. It was the first drop to that level since a brief dip at the end of last quarter.