Fed Ties Interest Rate Outlook to Range of Data

March 19 (Bloomberg) -- The Federal Reserve said it will look at a wide range of data in determining when to raise its benchmark interest rate from zero, dropping a pledge tying borrowing costs to a 6.5 percent unemployment rate. The Fed also reduced the monthly pace of bond purchases by $10 billion to $55 billion, the Federal Open Market Committee said in a statement today following a meeting in Washington that was the first led by Chair Janet Yellen. Peter Cook reports on Bloomberg Television's "Bottom Line." (Source: Bloomberg)
Top Photos: Portland Oil Protestors Hang From Bridge
49:48 - Bloomberg's Vonnie Quinn highlights photos that illustrate top stories from around the world. She speaks on “Bloomberg Surveillance.” (Source: Bloomberg)
  • Why Beta Equities Have 'Un-Betad' Themselves
  • Facebook: Will Good Things Come to Investors Who Wait?
  • Many People Capable of Being Mark Zuckerberg: Khan