Fed continues easing, says rates will remain low until unemployment, inflation targets are met

The Federal Reserve today pledged to keep interest rates low until unemployment falls below 6.5 percent and inflation reaches 2.5 percent, CNBC reported. This means the Federal Reserve may be pumping funds into the economy, a practice known as quantitative easing, indefinitely, as employment rates have stubbornly remained mostly stagnant in the last four years, CNBC said. This move, which was expected, brings the Fed’s total injection for 2013 to around $1 trillion in 2013, and $4 trillion overall. [more]