November 5: Economic Risk – US Fed Keeps Language Consistent with Policy Rates Staying "Low for Long"
Location: Toronto
Author: RBC Financial Group Economics Department
Date: Thursday, November 5, 2009
As expected the FOMC kept the target for the Fed Funds rate in the 0 to ¼ percent range and reiterated that the low level of the policy rate would likely be maintained "for an extended period." While their commitment to the "low rates for long" remains intact, the FOMC acknowledged that the US economic activity "continued to pick up" and that the combination of policy actions and "market forces" are likely to see the economy to continue to strengthen.
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