Fed keep rates at record lows; upbeat on economy
WASHINGTON (AP) - The Federal Reserve is sounding a more confident note that the economy is strengthening and pledges to hold rates at record lows to make sure it gains even more traction.
Wrapping up a two-day meeting Wednesday, the Fed in a 9-1 decision retained its pledge to hold rates at historic lows for an "extended period." Doing so will help energize the recovery.
The Fed offers a more upbeat view of the economy, even as it notes that risks remain. The Fed says the job market is "beginning to improve" and notes that consumer spending has "picked up." Both observations were brighter than when the Fed last met in mid-March.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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