The New York Times
Tue, December 14, 2010 -- 2:40 PM ET
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With Growth Sluggish, Fed Keeps Buying Bonds
Calling the pace of economic recovery "insufficient to bring
down unemployment," the Federal Reserve announced on Tuesday
that it would move ahead with its plan to buy $600 billion in
government securities through June and would keep its
short-term interest rates near zero.
The central bank decided not to waver from its strategy
despite heavy recent criticism and despite indications that
market reaction to the tax compromise forged by the Obama
administration and Republican lawmakers could hamper the
Fed's goal of reducing long-term interest rates.
The Fed statement suggested that it remained preoccupied with
the high jobless rate -- which ticked upward nationally to
9.8 percent this month -- and with employers' apprehensions
about hiring. The Fed said it saw little threat of
accelerating inflation.
Read More:
http://www.nytimes.com/2010/12/15/business/economy/15fed.html?emc=na
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