Fed stands pat but says will act if needed

U.S. Federal Reserve Chairman Ben Bernanke attends the IMFC meeting in WashingtonWASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke on Wednesday said U.S. monetary policy was “more or less in the right place” even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken. In a statement after a two-day meeting, the Fed’s policy-setting panel reiterated its expectation that interest rates would not rise until late 2014 at the earliest, and it took no action on monetary policy. …



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