Fed Expects to Keep Interest Rates Near Zero

By Don Lee

The Federal Reserve announces a subdued outlook for growth in the U.S. economy, as well as its intention to keep short-term interest rates near zero through late 2014.

The Federal Reserve said it is likely to leave short-term interest rates at rock-bottom levels at least through late 2014, giving businesses and consumers much more time to borrow money cheaply and bolster a slowly recovering economy.

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