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Yellen says that rates will stay ultra-low for considerable time as bond-buying program wraps up

2014-09-17 5 Dailymotion

ROUGH CUT (NO REPORTER NARRATION).<br/> <br />STORY: Federal Reserve Chair Janet Yellen said Wednesday that the policy making Federal Open Market Committee, "decided to make another reduction in the pace of asset purchases."<br/> <br />The U.S. Federal Reserve on Wednesday also renewed a pledge to keep interest rates near zero for a "considerable time" but it issued projections that suggested it may raise borrowing costs a bit quicker than it had been thinking a few months ago.<br/> <br />Many economists and traders had expected the central bank to alter the rate guidance it has provided since March, given generally improving data on the economy's performance.<br/> <br />But the Fed repeated its assurance that rates would stay ultra-low for a "considerable time" after a bond-buying stimulus program wraps up. The Fed announced a further $10 billion reduction in its monthly purchases, leaving the program on course to be shuttered next month.<br/> <br />The Fed also released a new blueprint for how it plans to ex

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