US Federal Reserve says can be 'patient' on rate rise

Fed Chair Janet Yellen holds a press conference at the Federal Reserve Board on December 17, 2014 in Washington, DCThe US Federal Reserve made no changes to its monetary policy Wednesday, saying it can remain “patient” before moving to raise interest rates and normalizing its easy-money stance. In a policy statement at the end of a two-day meeting, the Fed left in place expectations that it would begin raising interest rates only in the middle of 2015. The Fed left the range of its key interest rate, the federal funds rate, at between zero and 0.25 percent, where it has been for six years to help the US emerge from deep recession. According to the new projections, Fed officials expect a pickup in interest rates to begin later than they forecast in September.

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