Fed reiterates vow to keep rates low for "extended period"

Officials from the Federal Reserve signaled that the European sovereign-debt crisis could hurt economic growth in the U.S. as they left the benchmark interest rate at a record low. "Financial conditions have become less supportive of economic growth on balance, largely reflecting developments abroad," the Federal Open Market Committee said. Fed officials said the recovery is "proceeding" but cited slowing inflation in their decision.

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