By Vicki Needham - 03/16/10 06:54 PM EDT
The Federal Reserve stood by its policy of keeping interest rates at rock-bottom levels for the foreseeable future at its policymaking meeting Tuesday, even as central bank officials said that the "labor market is stabilizing."
The Federal Open Market Committee left its target for short-term interest rates unchanged near zero, where it has been for the past 15 months. Fed officials also repeated language from previous statements that rates are likely to remain "exceptionally low" for an "extended period," which they have said means at least six more months.
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