10 August, 2011

CNN Breaking News

The Federal Reserve said Tuesday it plans to keep interest rates "exceptionally low" until at least 2013 and acknowledged that the economic recovery is slowing.

The Federal Reserve has kept the federal funds rate near zero for an extended period is to help stimulate the economy. That rate is the central bank's key tool used to spur the economy.

The Fed said growth is "considerably slower" than expected.

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