Fed Says It Will Keep Interest Rates Low For Now
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Cameron Whitman/iStock/Thinkstock(WASHINGTON) — The Federal Reserve said Wednesday that they would be “patient” and keep interest rates where they are for now.
In the statement, the Fed said that “labor market conditions have improved further, with strong job gains and a lower unemployment rate.”
The Fed also said that underutilization of labor resources is diminishing, household spending is up and business investment is advancing. On the flip side, the recovery in the housing sector remains slow. The Federal Open Market Committee said that based on its assessment it can “be patient in beginning to normalize the stance of monetary policy.”
Some experts anticipate the interest rate hikes could begin in September, though the Fed did not say for how much longer they would keep rates low.
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