Fed Says Rates to Stay Low Until 2013

The Federal Reserve has pledged, again, to keep rates exceptionally low through at least mid 2013- but said financial market turbulence posed threats to economic growth, leaving the door open to further easing next year. In a statement released after its final one-day meeting of the year, the Fed said the U.S. economy has been expanding moderately, notwithstanding the apparent slowing in global growth.

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