Fed says 'full range of tools' in play to counter pandemic

WASHINGTON (AP) — The Federal Reserve is promising to use its “full range of tools” to pull the country out of a deep recession caused by a global pandemic, signaling that it would keep interest rates low through 2022. In its semi-annual monetary policy report to Congress, the central bank said that the COVID-19 outbreak was causing “tremendous human and economic hardship across the United States and around the world.” The report said that the central bank was “committed  to using its full range of tools to support the U.S. economy in this challenging time.”