|Fed acknowledges economy in soft patch|
| The US Federal Reserve kept monetary policy frozen after its June meeting as it acknowledged that the economy has run into a soft patch.|
The central bank said that interest rates will remain on hold at 0 to 0.25 per cent for an “extended period” and it will continue to reinvest in its securities portfolio. That will keep the Fed’s balance sheet at around $2,800bn in size.
Wednesday, June 22, 2011
Posted by Michele Kearney at 5:01 PM