by Paul Davidson:
12:55PM EST December 12. 2012 - The Federal Reserve on Wednesday agreed to keep a key short-term rate near zero until the unemployment rate is 6.5% or lower. Economists said it was an unprecedented move by the central bank.
The Fed also said it will continue buying 445 billion a month in Treasury bonds to keep long-term interest rates low and help support a halting economic recovery.
The move was widely anticipated and key stock indexes rose 0.5% shortly after the announcement. The yield on the 10-year Treasury bond rose to 1.67%. ...