Fed Refrains From Reduction, Keeps Buying Bonds at $85B pace

The Federal Reserve says it needs more evidence of lasting improvement in the economy before reducing the $85 billion pace of monthly bond buying.


“Conditions in the job market today are still far from what all of us would like to see,” said Chairman Ben S. Bernanke after a two-day meeting of the Federal Open Market Committee. “The committee has concern that rapid tightening of financial conditions in recent months would have the effect of slowing growth.”


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