Fed Maintains “Considerable Time” Stance

The Federal Reserve stuck to its pledge to keep interest rates near zero for a “considerable time” after it stops buying assets, even as it outlined a strategy to exit from six years of unprecedented easing.

“The labor market has yet to fully recover,” Fed Chair Janet Yellen said at a press conference today after a meeting of the Federal Open Market Committee in Washington. “There are still too many people who want jobs but can’t find them.”

Yellen added that “inflation has been running below the committee’s 2 percent objective,” a contrast to the panel’s July statement that it was “somewhat closer” to its goal.

Bloomberg

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