Fed extends low-rate vow in bid to help economy
source: http://www.chicagotribune.com/business/sns-rt-us-usa-fedtre80n1dq-20120124,0,5894747.story
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- maasanova
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In other words the Federal Reserve Private Banking Cartel is out of bullets to "help" the economy, but we've suspected that they were going to be worthless for like four years now.
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The Federal Reserve on Wednesday said it will likely not raise interest rates until at least late 2014, much later than it had said previously, as it nurses a still-sluggish economic recovery.
The Fed, after a two-day policy meeting, repeated its view that the economy faces "significant downside risks" but it offered little to suggest it was close to launching another round of bond-buying to prop up growth.
Many investors had expected the Fed to push its expectations for the first rate hike into 2014, but few had thought it would be late in the year. After every previous policy meeting dating back to August, the Fed had said rates were not likely to rise until mid-2013.
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The Federal Reserve on Wednesday said it will likely not raise interest rates until at least late 2014, much later than it had said previously, as it nurses a still-sluggish economic recovery.
The Fed, after a two-day policy meeting, repeated its view that the economy faces "significant downside risks" but it offered little to suggest it was close to launching another round of bond-buying to prop up growth.
Many investors had expected the Fed to push its expectations for the first rate hike into 2014, but few had thought it would be late in the year. After every previous policy meeting dating back to August, the Fed had said rates were not likely to rise until mid-2013.
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