Even without a stimulus deal, the Fed, which held interest rates near zero, can help everyday Americans. Here’s how
Although a second stimulus plan is still up in the air, the Federal Reserve is determined to push consumer borrowing costs even lower as the economic recovery takes hold — giving everyday Americans a reason to be optimistic.In addition to holding interest rates near zero, Fed Chairman Jerome Powell said Wednesday the central bank will continue to increase its bond holdings to preserve the flow of credit until the economy gets back to full employment."Vaccines do increase the likelihood for a rapid snapback in economic activity, but we have to get from here to there first," said Greg McBride, chief financial analyst at Bankrate.com.For now, the Treasury has clipped the Fed's wings by declining to extend some of its emergency programs and instead diverting the funds to fiscal stimu