Fed to Keep Rates Low as Economy Recovers: Kohn
| 23 May 2009 | 06:13 PM ET
The U.S. Federal Reserve is likely to keep benchmark interest rates near zero for a while in an economy that is pulling out of a steep decline and appears on course for a very gradual recovery, Fed Vice Chairman Donald Kohn said Saturday.
"The economy is only now beginning to show signs that it might be stabilizing, and the upturn, when it begins, is likely to be gradual amid the balance sheet repair of financial intermediaries and households," Kohn told a conference at Princeton University.
URL: http://www.cnbc.com/id/30905345/
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