The Kestner Team

Federal Reserve Vows to Keep Interest Rate Low

By Tom Petrun

RISMEDIA, March 18, 2010—(MCT)—Steady as it goes, Federal Reserve policymakers recently declared in their post-meeting statement. They left their benchmark short-term interest rate unchanged in the range of zero to 0.25% and once again pledged to keep it low for an “extended period”—retaining the phrase they’ve used for the past year.

The central bank continued to sound relatively upbeat about the economy, saying the data it looks at suggest that “economic activity has continued to strengthen and that the labor market is stabilizing.”