Business
ASX set to jump on Fed pledge to keep rates low, support US economy – Sydney Morning Herald
Wall Street rises as Fed pledges use its “full range of tools” to support the economy for as long as it takes to recover from fallout of the pandemic.
“The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals,” the statement said. “The path of the economy will depend significantly on the course of the virus.”
In late trade, the Dow Jones Industrial Average is up 0.4 per cent, the S&P 500 has gained 1 per cent, and the Nasdaq Composite has added 1.2 per cent. It sets up the Australian sharemarket for gai…
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