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Fed cuts stimulus another $10 billion, holds steady on interest rates
Fed cuts stimulus another $10 billion, holds steady on interest rates

Federal Reserve policymakers on Wednesday cut their monthly bond-buying stimulus program by another $10 billion and held interest rates steady at near zero, offering no suggestions that they will raise them any time soon as the economic recovery improves. In a statement after a two-day meeting, the Federal Open Market Committee said it expected that interest rates would remain at their rock-bottom level for "a considerable time" after the bond-buying program ends. The program is on track to conclude in October. The Fed also downgraded its economic projections for this year and 2015 from estimates made in June. The Fed now forecasts the economy will grow between 2% and 2.2% this...

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