Promises that the Federal Reserve says “will work”.

By Valley West Mortgage 9 years ago
Home  /  Recent News  /  Promises that the Federal Reserve says “will work”.

On Tuesday August 9th, 2011, the Federal Reserve promised to keep interest rates near zero perent until 2013 and said it would consider further steps to help growth, sparking a rebound in stocks according to an article on Reuters.com by Pedro da Costa and Mark Felsenthal. American citizens know that when it comes to our government and elected officials telling the truth or setting the record straight, you take what is said with “a grain of salt”. After painting an unclear portrait, the Federal Reserve says the economic growth has shown more signs of weakness than previously expected. Central Bank released a statement saying “We will hold benchmark rates at rock-bottom lows until mid 2013, and opened the door to other tools to support growth.” The announcement foreshadowed how long the Central Bank expects it will take before a struggling economy can move forward in one of the toughest times ever seen.

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