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  • The US Federal Reserve on Wednesday stressed that the course of the coronavirus pandemic will be critical to the economic recovery. The statement came as the policy-setting Federal Open Market Committee (FOMC) held the benchmark lending rate at zero as expected, and did not make any other changes to its guidance. It repeated the intention to hold rates at zero "until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals," but warned the virus "poses considerable risks to the economic outlook." hs/cs
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  • Fed says US economic recovery depends on virus
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