# Fed says US economy has 'made progress' but holds rates at near-zero

> The Federal Reserve held its benchmark rate at 0 to 0.25% and said the economy had made progress, but it will not begin tapering its $120bn monthly bond purchases until the labour market shows substantial further progress. Powell said there was still ground to cover in the labour market.

- Date: 2021-07-28 · published 2021-07-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/45977-fed-says-us-economy-has-made-progress-but-holds-rates-at-near-zero
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Delayed tapering keeps liquidity high and the dollar under pressure, which tends to support dollar-priced commodities including grains and oilseeds.

## Read by commodity

- DXY: bearish ▼
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-12-16 | [Fed keeps rate near zero and sees brighter economy in 2021 \| AP News](https://feedsoft.ai/events/49562-fed-keeps-rate-near-zero-and-sees-brighter-economy-in-2021-ap-news.md) | +0.3% | -0.3% |
| DXY | 2019-10-30 | [Fed cuts rates for the third time as US economy slows \| CNN Business](https://feedsoft.ai/events/56485-fed-cuts-rates-for-the-third-time-as-us-economy-slows-cnn-business.md) | +0.1% | +1.0% |
| DXY | 2018-11-28 | [Dollar drops as Fed's Powell says rates near neutral](https://feedsoft.ai/events/62245-dollar-drops-as-fed-s-powell-says-rates-near-neutral.md) | -0.8% | -0.8% |
| DXY | 2022-06-15 | [Dollar dips as Fed hikes rates, flags slowing economy](https://feedsoft.ai/events/7713-dollar-dips-as-fed-hikes-rates-flags-slowing-economy.md) | -0.9% | +2.0% |
| DXY | 2024-06-03 | [Gold rises as soft US economic data spurs Fed rate cut bets](https://feedsoft.ai/events/29638-gold-rises-as-soft-us-economic-data-spurs-fed-rate-cut-bets.md) | +1.2% | +1.9% |
| CORN | 2021-04-28 | [Fed decision April 2021: Interest rates held near zero, sees faster growth](https://feedsoft.ai/events/47513-fed-decision-april-2021-interest-rates-held-near-zero-sees-faster-growth.md) | +4.4% | -7.3% |
| CORN | 2019-12-11 | [Dollar slips to 4-month low as Fed holds rates, nixes hike hopes](https://feedsoft.ai/events/55754-dollar-slips-to-4-month-low-as-fed-holds-rates-nixes-hike-hopes.md) | +5.1% | +4.1% |
| CORN | 2023-10-31 | [US dollar falls as markets believe Fed is done hiking rates \| Reuters](https://feedsoft.ai/events/11457-us-dollar-falls-as-markets-believe-fed-is-done-hiking-rates-reuters.md) | +1.1% | -3.7% |

## Sources

- cityam.com: https://www.cityam.com/fed-says-us-economy-has-made-progress-but-holds-rates-at-near-zero/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.