The Last Chance Of Freedom : Fed says it is unlikely to raise key interest rate until late 2014, extending time frame

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Wednesday, January 25, 2012

Fed says it is unlikely to raise key interest rate until late 2014, extending time frame

By Associated Press

WASHINGTON — The Federal Reserve assured consumers and businesses Wednesday that they’ll be able to borrow cheaply well into the future.

The Fed said it’s unlikely to raise its benchmark interest rate before late 2014, extending its time frame by at least a year and a half. The Fed said record-low rates are still needed to help boost an improving but still sluggish economy.

Stocks, which had traded lower all day, quickly recovered their losses. The Dow Jones industrial average, which had been down about 60 points before the announcement, was up just three points shortly after it.

Read more: http://www.washingtonpost.com/business/economy/feds-forecast-on-interest-rates-expected-to-hint-at-no-increase-before-2014/2012/01/25/gIQALBtZPQ_story.html?wpisrc=al_comboNE_b

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Wednesday, January 25, 2012

Fed says it is unlikely to raise key interest rate until late 2014, extending time frame

By Associated Press

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