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Fed Hints of Future Economic Stimulus
Federal Reserve policymakers have agreed to leave the key overnight bank lending rate unchanged in a range of zero to 0.25% as it has since December 2008.
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Federal Reserve policymakers have agreed to leave the key overnight bank lending rate unchanged in a range of zero to 0.25% as it has since December 2008.
Central bankers boosted its outlook for 2012 U.S. economic growth by 0.2 points to a range of 8.2% to 8.5%. The Fed expects an unemployment rate of 7.8%-8% this year, down from its earlier forecast of 8.2%-8.5%. The jobless rate is now 8.2%.
But the housing market remains depressed, despite some signs of improvement, according to Fed policymakers. They also worry that Europe's debt crisis could worsen.
Fed Chairman Ben Bernanke says the central bank is "prepared to do more" if job creation doesn't pick up. He says another round of Fed purchases of bonds, which pumps liquidity into the financial system, is still "very much on the table."
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