The economy is improving, the Federal Reserve said Wednesday, but not enough to warrant higher interest rates for at least two-and-a-half more years.
The central bank indicated that it expects to keep the federal funds rate near historic lows until late 2014 - an extension from the Fed's original pledge to keep rates low through mid 2013.
The "economy has been expanding moderately, notwithstanding some slowing in global growth," the Fed said in a statement Wednesday.
More details will be released at 2 p.m. ET, when the Fed will release forecasts for the federal funds rate for the first time ever.
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Well hopefully americans will be workhng enough by then to where they wont be scared to take out loans!
Fed to insure that 401K plans remain stagnant for another 3 years. That's something to look forward to. Just put you money into equities and wait for it to disappear.
Hagetha needs to f off.