The Federal Reserve on Tuesday took the unprecedented step of promising to keep interest rates near zero for at least two more years, adding it was considering further action, sparking a rebound in stocks.
Investors were still unsure whether the Fed's even stronger promise to maintain rates at rock-bottom lows until mid-2013 would be enough to revive a flagging economic recovery. . .View full article
Fed Under Pressure to Act as World Markets Swoon
Source: Reuters, Pedro da Costa and Mark Felsenthal (8/10/11)
"The Fed took the unprecedented step of promising to keep interest rates near zero for two years, while considering further action."
Reuters, Pedro da Costa and Mark Felsenthal