stability

Fed Locks Down Interest Rates

As the economy slowly bounces back, the Federal Reserve says it could keep interest rates low even with the jobless rate and inflation are at the right levels. The promise to hold down rates "well past the time" of unemployment falling doesn't mean there's been a policy change, the policy panel announced after the first meeting with Chairwoman Janet Yellen. "Economic conditions may, for some time, warrant keeping the target federal funds rate below levels the committee views as normal in the longer run," it said.