Fed Suggests Economy Is Stabilizing
Posted by Corey Kaster on August 12, 2009
BY MAYA JACKSON RANDALL AND BRIAN BLACKSTONE
WASHINGTON — U.S. Federal Reserve officials on Wednesday left official interest rates near zero but suggested the economy is on more stable ground, more confirmation that the severe recession is either already over or will be very soon.
Information received since policy makers met in June "suggests that economic activity is leveling out," they said in the statement they released at the conclusion of their two-day meeting.
Officials also offered a specific timeline for their program to buy up to $300 billion in Treasurys, making clear that they plan to end the program in October.