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Fed Keeps Rates Steady; Monitoring Progress on Taper Threshold

The Federal Reserve kept interest rates, and acknowledge that while progress had been made toward its threshold to start tapering monthly bond purchases, more time was needed to assess the progress at upcoming meetings.  The Federal Open Market Committee left its benchmark rate unchanged in the range of 0% to 0.25% and said it would continue its $120 billion monthly bond purchases. "Last December, the Committee indicated that it would continue to increase its holdings of Treasury secur
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