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Fed Holds Interest Rates Steady at Record Low

Top officials of the U.S. central bank are holding the key interest rate steady at a record low, near zero, where it has been since 2008. The Federal Reserve wrapped up two days of meetings Wednesday, saying U.S. unemployment remains low, but the pace of job creation has slowed. The Fed tries to steer the economy toward full employment and stable prices. That is why the Fed slashed interest rates during the financial crisis when unemployment rose to 10 percent.  The idea was to...

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