The Federal Reserve said Wednesday it would keep interest rates at near-zero, record-low levels for a "considerable time," citing a weak labor market. In addition, the Fed said it would taper its bond-buying program by another $10 billion per month.
"On balance, labor market conditions improved somewhat further," the Federal Open Market Committee said in a statement. "However, the unemployment rate is little changed."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
'Underneath the noise, however, there’s an existential crisis'Instant Opinion Opinion, comment and editorials of the day
-
2024: the year of distrust in scienceIn the Spotlight Science and politics do not seem to mix
-
The Nutcracker: English National Ballet's reboot restores 'festive sparkle'The Week Recommends Long-overdue revamp of Tchaikovsky's ballet is 'fun, cohesive and astoundingly pretty'
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
