Summary
- Staying the course of using its full range of tools to support the U.S. economy (no change)
- The disruptions to economic activity here and abroad have significantly affected financial conditions and have impaired the flow of credit to U.S. households and businesses. The ongoing public health crisis will weigh heavily on economic activity, employment and inflation in the near term and pose considerable risks to the economic outlook over the medium term. (new)
- The target range for the federal funds rate remains unchanged at 0 to 1/4 percent. (unchanged)
- To support the flow of credit to households and businesses, the Federal Reserve will continue to purchase Treasury securities and agency residential and commercial mortgage-backed securities in the amounts needed to support smooth market functioning. (changed)
- Continue to offer large-scale overnight and term repurchase agreement operations. (no change)
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Here is the complete language change between March and April press releases.
