The New York Times
Wed, June 23, 2010 -- 2:29 PM ET
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Fed Leaves Rates Unchanged, Citing Overseas Threats to U.S. Growth
The Federal Reserve's policy-making arm said on Wednesday
that it had decided to keep short-term interest rates near
zero for "an extended period" in light of continuing threats
to economic growth, including "developments abroad."
The Federal Open Market Committee's decision to stick with
its low-interest-rate policy was expected, given the
persistently high unemployment rate and continuing weakness
in housing and consumer spending.
As before, the committee said, economic conditions "including
low rates of resource utilization, subdued inflation trends,
and stable inflation expectations, are likely to warrant
exceptionally low levels of the federal funds rate for an
extended period."
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