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More guidance on rates might help lower long-term yields further -- in effect providing a kind of stimulus. Lower rates could lead consumers and businesses to borrow and spend more. The economy would likely benefit.
The Fed has left its key short-term rate at a record low near zero for the past three years. In August, it said it planned to leave the rate there until at least mid-2013, unless the economy improved.
Many private economists believe the rate is likely to remain near zero for longer than the mid-2013 target. Many are forecasting the first rate hike will not occur until sometime in 2014.
[Associated
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