US Fed says rates to remain low for now, calls for more stimulus

US Federal Reserve Chairman Jerome Powell on Wednesday said that the central bank's low interest rates and its aggressive asset purchase programme will continue for a while as the US labour market remains stunted by COVID-19. Powell told the Economic Club of New York that the central bank needs to "patiently" keep monetary policy accommodative by allowing a hot labour market to pull in low- and moderate-income workers displaced during the pandemic.