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Fed to continue stimulus policies, won't hike interest rates
Los Angeles Times | June 19, 2013 | 11:15 AM
Federal Reserve policymakers said today that they would continue the central bank’s controversial bond-buying stimulus program and leave short-term interest rates near zero to help boost the economic recovery.
Fed officials, after their two-day meeting, said they had no plans to change the Fed’s monthly purchase of $85 billion of Treasury and mortgage-related bonds. They also upgraded their forecast on the unemployment rate, saying it could fall to as low as 7.2% this year and 6.5% next year. But the Fed downgraded its projections of economic growth this year to no more than 2.6%, from an earlier forecast of as high as 2.8%.
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If they stop now the game is over.