Saying that the recovery isn't occurring fast enough, the Federal Reserve announced today it will buy $600 billion of U.S. government debt over the next eight months.
Though the economy is recovering and the labor market is improving, the economy is still hurt by high unemployment and modest income growth.
The Federal Reserve today announced it was keeping interest rates unchanged.
Low inflation and a sluggish economy are "likely to warrant exceptionally low levels of the federal funds rate for an extended period," Federal Reserve Chairman Ben S. Bernanke told the House Banking Committee today.
While noting that "economic activity has continued to strengthen and that the labor market is stabilizing" but expressing concern about high unemployment and tight credit, the Federal Reserve today announced it was keeping interest rates unchanged.
The political and policymaking sides of the Federal Reserve's role were in full view last week as the Fed kept interest rate the same and lawmakers dragged out the vote on Chairman Ben Bernanke's second term.
Saying that while "economic activity has continued to strengthen," but the "pace of economic recovery is likely to be moderate for a time," the Federal Reserve today announced it was keeping interest rates unchanged.