The New York Times
Tue, March 16, 2010 -- 2:14 PM ET
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Seeing Weak Recovery So Far, Federal Reserve Leaves Rates Unchanged
The Federal Reserve left its benchmark interest rate near
zero on Tuesday, affirming its view that job growth and other
economic indicators remained weak as the United States slowly
pulls itself out of recession. The Federal Open Market
Committee, the Fed's chief policy-setting arm, left the
Federal Funds target at zero to 0.25 percent, where it has
been since December 2008. As it has said since March 2009,
the committee said the rate was likely to remain
"exceptionally low" for "an extended period." Most economists
have taken that language to mean that the Fed would not begin
tightening monetary policy until later this year at the
soonest.
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