The Federal Reserve announced its plan on Wednesday to keep short-term interest rates near zero through late 2014. The move signals that the Fed does not expect the economy to fully recover over the next three years. With unemployment still running high, the Fed expects the economy to expand between 2.2 and 2.7 percent over this year, instead of at 2.9 percent as originally projected. Kelly Evans writes the “Ahead of the Tape” column for The Wall Street Journal.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!