30 Oct 2013
Fed keeps policy unchanged
FXstreet.com (Córdoba) - The Federal Open Market Committee decided to keep its policy unchanged, maintaining the target range for the federal funds rate at 0 to 1/4 percent Wednesday and the bond-buying amount at $85 billion-per-month, giving few signals on the timing the bank could start tapering such program.
The Fed reiterated that it anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6.5% percent and inflation below 2.5%.
Meanwhile, the Federal Reserve said activity has continued to expand at a "moderate pace". Labor market has shown some further improvement, the Fed said, but the unemployment rate remains elevated. Officials also noted that "fiscal policy is restraining economic growth".
The Fed said it plans to "await more evidence that progress will be sustained before adjusting the pace of its purchases". Voting against the action was Esther L. George.
The Fed reiterated that it anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6.5% percent and inflation below 2.5%.
Meanwhile, the Federal Reserve said activity has continued to expand at a "moderate pace". Labor market has shown some further improvement, the Fed said, but the unemployment rate remains elevated. Officials also noted that "fiscal policy is restraining economic growth".
The Fed said it plans to "await more evidence that progress will be sustained before adjusting the pace of its purchases". Voting against the action was Esther L. George.