Fed Changes Interest Rate Policy, Linking to Wider Data Range
The Fed gave itself room to keep interest rates low by dropping a linkage between the benchmark interest rate and a specific level of unemployment.
Fed Links Rate Outlook to Range of Data; Drops 6.5% Jobless Threshold
FOMC said ‘highly accommodative stance of monetary policy remains appropriate’ before its first meeting led by Janet Yellen.
FOMC Minutes Show Some Dissension at Fed After S&P’s U.S. Debt Downgrade
Minutes from the Fed's Aug. 9 meeting that monetary policy makers were fully aware of the volatile global markets and issues surrounding the S&P downgrade of U.S. debt when they announced they will keep interest rates low through mid-2013.
Fed Announcement Helps U.S. Stocks Rebound
U.S. stocks surged Tuesday after Federal Reserve policymakers announced that they planned to keep rates in a very low range for the next two years.