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Fed Keeps ‘Considerable Time’ Pledge as Growth ‘Moderate’

The Federal Reserve stuck to its pledge to keep interest rates near zero for a “considerable time” after it stops buying assets, even as it outlined a strategy to exit from six years of unprecedented easing.

“The labor market has yet to fully recover,” Fed Chair Janet Yellen said at a press conference today after a meeting of the Federal Open Market Committee in Washington. “There are still too many people who want jobs but can’t find them.”