Ahead Of The Bell: US Unemployment Benefits
The Fed reinforced its plan to keep short-term interest rates at record lows at least until unemployment falls to 6.5 percent, as long as the inflation outlook remains mild. And it said it would continue buying $85 billion a month in bonds indefinitely to keep long-term borrowing costs down.
During a news conference after the meeting, Chairman Ben Bernanke acknowledged the job market has accelerated but said the Fed wants to see sustained improvement before altering its stimulus policies. Unemployment benefit applications are one of the measures Bernanke said the Fed is closely monitoring.
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