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FOMC confirms monetary policy bias

March 21, 2013

The Federal Open Market Committee confirmed its bias to keep monetary policy expansive as long as the economic recovery is not on safe ground, respectively the unemployment rate drops below the Fed’s 6.5% target (currently 7.7%). The benchmark rate remains unchanged at 0-0.25% and the Fed will continue to buy treasuries worth $85bn each month. However, Governor Ben Bernanke admitted that FOMC members discussed risks of its alternative policy measures.