Federal Reserve Holds Rates at 2%

Updated from 2:14 p.m. EDT

The Federal Reserve held its key interest-rate target steady Tuesday, indicating that the central bank's decision to support economic growth with a 2% target, rather than thwart inflation with rate hikes, has gone according to plan.

The Federal Open Market Committee noted that the job, credit and housing markets remain under stress and that high energy prices threaten to put pressure on future economic growth. However, it reiterated its position that the economy will stay afloat with the initiatives already put in place.

"Over time, the substantial easing of monetary policy, combined with ongoing measures to foster market liquidity, should help to promote moderate economic growth," the FOMC said in a statement. ...