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Fed ‘Considerable Time’ Rate Pledge Under Scrutiny Ahead

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Federal Reserve officials are discussing the future of their vow to hold interest rates low for a “considerable time,” ahead of a meeting next week where they will weigh that pledge against signs of economic strength.

Federal Reserve Bank of Atlanta President Dennis Lockhart, foreshadowing a debate for the Federal Open Market Committee on Dec. 16-17, said yesterday there were dangers in dropping the U.S. central bank’s commitment, even after good news on job creation.