The New York Times
Wednesday, June 22, 2011 -- 1:02 PM EDT
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Fed to End Stimulus Measures as Planned
The nation's central bank said Wednesday that it would complete the planned purchase of $600 billion in Treasury securities next week as scheduled, and then suspend its three-year-old economic rescue campaign, leaving in place the aid it already is providing but doing nothing more, for now, to boost growth.
"The economic recovery is continuing at a moderate pace, though somewhat more slowly than the committee had expected," the Fed said in a statement. "The committee expects the pace of recovery to pick up over coming quarters and the unemployment rate to resume its gradual decline."
The Fed's policy board, the Federal Open Market Committee, voted unanimously to maintain its two-year-old commitment to hold a benchmark interest rate near zero "for an extended period."
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http://www.nytimes.com/2011/06/23/business/economy/23fed.html?emc=na
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