Long-term Interest Rates to Stay at Record Lows

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The Federal Reserve says it will continue to keep long-term interest rates at record lows by buying $85 billion in monthly bonds.

In a statement today Chairman Ben Bernanke hinted at moving closer to reducing the stimulus but didn't indicate when that might happen.

In the meantime, the Fed will continue to buy monthly bonds in order to prop up economic recovery at least until unemployment reaches 6.5 percent.

A majority of federal officials do not expect a hike in interest rates until 2015.

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