Fed Chairman Powell said at a press conference after the interest rate resolution that the Fed will continue to buy Treasuries and mortgage-backed securities (MBS) until progress is made.

Powell said the Fed assessed those considerations on how to adjust asset purchases, and the timing of the adjustment would depend on economic data.

Powell said the Federal Open Market Committee (FOMC) will continue to evaluate the goals of maintaining price stability and achieving full employment and will continue to provide more transparency on policy considerations.

The Fed kept its benchmark interest rate at near zero on Wednesday in line with market expectations and said the US economy continued to grow despite concerns about the spread of the COVID-19 epidemic.