Federal Reserve Chairman Ben Bernanke held a news conference to present the Federal Open Market Committee's (FOMC) current economic projections and to provide additional context on the group's policy decision. The FOMC has announced that it plans to keep rates as low as they are now until at least late 2014.
The Fed was set to announce its first-ever interest rate forecast after the FOMC meeting. The Wall Street Journal has reported that some Federal Reserve officials “believe low inflation and high unemployment could warrant low rates for longer” than mid-2013.