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The average national price for a gallon has fallen since reaching a peak this year of $3.79 on Feb. 28. The average price was $3.60 a gallon on Thursday, according to AAA. The Fed has said it will keep the short-term interest rate it controls near zero at least until the unemployment rate falls below 6.5 percent, as long as the inflation outlook remains mild. It is also buying about $85 billion a month in Treasury and mortgage bonds to try to keep longer-term rates low. That's intended to encourage borrowing and spending, which drives economic growth. Many economists expect the Fed to begin to taper those purchases by the end of the year, particularly if hiring stays healthy. But too-low inflation could encourage the Fed to maintain or even step up the pace of its purchases.
[Associated
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