Federal Reserve: Interest Rates to Remain at Record Lows
Published at | Updated at(WASHINGTON) — The Federal Reserve is keeping interest rates near zero again — at least until the economy gathers more steam.
Fed Chair Janet Yellen said Wednesday the continued sluggish job market is the reason the nation’s central bank won’t raise interest rates this month.
“Still too many people who want jobs, but cannot find them. Too many who are working part-time, but would prefer full-time work,” she said.
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The Fed has kept lending rates to banks near zero since the Great Recession began.
It also plans to continue shrinking the number of assets it buys to prop up the economy, hoping the low rates alone help put more people back to work.
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