No changes on the interest rate front today as the Federal Reserve's Open
Market Committee leaves the key federal funds rate at historic lows of 0% to 0.25%.
The Fed also said it would continuing buying mortgage-backed securities and Treasury securities to help support the credit markets.
Here's the committee's take on the economy:
"Although economic activity is likely to remain weak for a time, the Committee continues to anticipate that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will contribute to a gradual resumption of sustainable economic growth in a context of price stability.
"The prices of energy and other commodities have risen of late. However, substantial resource slack is likely to dampen cost pressures, and the Committee expects that inflation will remain subdued for some time."
Read the full Fed statement HERE.
See the full AP analysis HERE.
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