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Fed sees interest rates staying near zero through 2022

  • The Federal Reserve voted Wednesday to keep benchmark short-term rates near zero.
  • In addition to the rates move, the Fed said it would keep buying bonds, targeting $80 billion a month in Treasurys and $40 billion in mortgage-backed securities.
  • On the economy, the Fed sees GDP tumbling 6.5% in 2020 but bouncing back to a 5% gain in 2021.
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