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US Federal Reserve to keep interest rates low, maintains interventionist policy

Thursday, August 02, 2012

Bailey McCann, Opalesque New York: The US Federal Reserve has announced its intention to keep interest rates low through 2014 and says it will take action as necessary to support the weak economy and reduce unemployment. The Federal Open Market Committee (FOMC) intends to "keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014," it said in a sta......................

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