Yesterday, the Federal Open Market Committee (FOMC) statement extended the current near-zero interest rate policy another year to the middle of 2014. The FOMC also addressed the resumption of the Fed’s bond buying program.
The Federal Open Market Committee Ã¢â‚¬Å“recognizes the hardships imposed by high and persistent unemployment in an underperforming economy, and it is prepared to provide further monetary accommodation,Ã¢â‚¬Â Bernanke said yesterday at a press conference in Washington.
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