Wednesday, January 26, 2011

US Federal Reserve Holds Policy

The US Federal Open Market Committee announced that it would retain the Federal Funds Rate at the same range of 0-0.25%, and that it would make no changes to the $600 billion asset purchase program (or 'quantitative easing part II'), scheduled to run through to June. The FOMC noted in its statement, that the "economic recovery is continuing, though at a rate that has been insufficient to bring about a significant improvement in labor market conditions."


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