The Federal Reserve, saying economic growth had "paused" in recent
months, announced Wednesday it will continue its $85 billion monthly
bond buying and hold interest rates near zero until unemployment falls
to at least 6.5 percent.
The central bank decision, which followed a two-day meeting, had been widely expected, especially after a surprising decline in U.S. economic growth for the fourth quarter.
Earlier Wednesday, the government announced that GDP unexpectedly suffered its first decline since the 2007-09 recession, falling at a 0.1 percent annual rate after growing at a 3.1 percent clip in the third quarter.
Read more: http://www.cnbc.com/id/100420290
The central bank decision, which followed a two-day meeting, had been widely expected, especially after a surprising decline in U.S. economic growth for the fourth quarter.
Earlier Wednesday, the government announced that GDP unexpectedly suffered its first decline since the 2007-09 recession, falling at a 0.1 percent annual rate after growing at a 3.1 percent clip in the third quarter.
Read more: http://www.cnbc.com/id/100420290
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