Fed stays the course on support for bond buying

08/1/2013 | Reuters

The Federal Reserve will continue its bond purchases at the rate of $85 billion per month in light of the modest growth of the economy and rising mortgage rates, it said Wednesday at the close of a two-day meeting. The central bank also expressed concern about the low rate of inflation but offered no additional guidance on when a promised tapering off of the bank's support program would begin.

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