THANK U KEMBER RN The Federal Reserve said it will continue buying assets at a clip of $85 billion a month, and hold short-term interest rates at essentially 0% until the unemployment rate falls to 6.5%. The central bank said is prepared to increase or reduce its purchases based on economic conditions. However, downside risks have ‘diminished’ since the fall. The central bank also said it sees the unemployment rate falling faster than it forecast in March. It now sees the jobless rate clocking in at 6.5% to 6.8% next year, from 6.7% to 7%. At the same time, it also upped its forecast for economic growth in 2014 to 3% to 3.5%, from 2.9% to 3.4%.
Posted on: Wed, 19 Jun 2013 22:24:20 +0000
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