Fed Sees Slower Growth But Offers No Hint Of More Easing - US Business News - CNBC: "In response to the deepest recession in generations, the Fed slashed the overnight federal funds rate to near zero in December 2008.
It has also more than tripled the size of its balance sheet to around $2.9 trillion through two separate bond purchase programs.
The policy is credited with having prevented an even more devastating downturn, but it has been insufficient to bring unemployment down to levels considered normal during good economic times."
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