The US Federal Open Market Committee maintained the fed funds rate at 0 to 0.25 percent, and maintained its asset purchase program, or "QEII", at $600 billion. The Committee's statement noted: "The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period."
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