Fed Under Pressure to Act as World Markets Swoon

Source:

"The Fed took the unprecedented step of promising to keep interest rates near zero for two years, while considering further action."

Reuters, Pedro da Costa and Mark Felsenthal

fed

The Federal Reserve on Tuesday took the unprecedented step of promising to keep interest rates near zero for at least two more years, adding it was considering further action, sparking a rebound in stocks.

Investors were still unsure whether the Fed's even stronger promise to maintain rates at rock-bottom lows until mid-2013 would be enough to revive a flagging economic recovery. . .View full article

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