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Fed: US economy picked up

Fed: US economy picked up

24 September 2009 09:16 (UTC +04:00)

Baku - APA-Economics. The U.S. Federal Reserve signalled in its latest monetary policy statement , released on Wednesday afternoon, that the economy has â€œpicked upâ€ â€“ which is potentially good news for investors.

And for those investors who are concerned that an economic recovery will bring higher interest rates, the Fed had something for them too. It reiterated that the benchmark interest rate, now at about 0 per cent, will stay â€œexceptionally lowâ€ for an â€œextended period.â€

This latest dose of optimism appears to be forming a trend at the Fed. In a recent speech, Chairman Ben Bernanke said that the recession was essentially over. And in August, the Fedâ€™s monetary policy statement said that economic activity was levelling out.

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