Fed maintains vow to keep rates near zero for "extended period"

01/27/2010 | Bloomberg

The Federal Reserve kept interest rates close to zero, but a rift among its policymakers is starting to appear for the first time in about a year. Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, said it is time to move beyond the pledge to keep rates low. Policymakers also reiterated their intention to stop buying mortgage-backed securities in March.

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