Fed says rate increase depends on labor market, inflation
The Federal Open Market Committee reiterated its commitment to keep interest rates "exceptionally low" for an "extended period." Federal Reserve officials also indicated that a rate increase will depend on inflation and the labor market rather than economic growth alone. "The Fed is simply trying to set up conditions or parameters for the continuation of the current easy policy so that it's not unlimited with no boundaries," said John Silvia, chief economist at Wells Fargo Securities.
Washington Post, The | 11/05
This story published in ICSC SmartBrief on 11/06/2009
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