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Daily Real Estate News  |  April 29, 2010  |   Fed Reaffirms Near-Zero Interest Rates
The Federal Reserve reiterated its intention to keep key interest rates near zero for “an extended period” in a statement released Wednesday.

“Economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period,” the Fed statement said.

While some analysts questioned the Fed’s position, John Silvia, chief economist at Wells Fargo Securities, said, “There are questions about the pace of the recovery and the sustainability of the housing recovery. Therefore, it is too early to move. The extended period is still in force.”

Source: Bloomberg, Craig Torres and Steve Matthews (04/29/2010)

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