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US Fed to keep rates low for at least 2 years

08-10-2011 08:14 BJT Special Report:After S&P Downgrades U.S. Credit Rating |

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The U.S. Federal Reserve, in an unprecedented move, said on Tuesday it will keep interest rates near zero for at least two more years, and consider further action. The announcement bolstered battered stock markets.

The Fed said U.S. economic growth was proving considerably weaker than expected and inflation will remain contained for the foreseeable future. It also reiterated its policy of reinvesting the proceeds from bonds maturing in its portfolio, though it did not state a specific time frame for such actions.

The U.S. economy increased only 0.4 percent in the first quarter this year and 1.3 percent in the second quarter. Ben Bernanke, Chairman of the Fed said earlier that he expected the recovery to gain strength in the second half of the year. Still, many economists predict that the U.S. economy will grow at slow pace, which would not reduce the unemployment rate significantly.

The U.S. Federal Reserve, in an unprecedented move, said
on Tuesday it will keep interest rates near zero for at
least two more years, and consider further action. The
announcement bolstered battered stock markets.

The U.S. Federal Reserve, in an unprecedented move, said
on Tuesday it will keep interest rates near zero for at
least two more years, and consider further action. The
announcement bolstered battered stock markets.

The U.S. Federal Reserve, in an unprecedented move, said on Tuesday it
will keep interest rates near zero for at least two more years, and
consider further action. The announcement bolstered battered stock markets.

 

Editor:Zhang Jingya |Source: CNTV.CN

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