Wednesday, the Fed announced it expects interest rates to stay at "exceptionally low levels" until at least late 2014.
Those exceptionally low levels are between 0 and quarter % - or as close to zero as it is possible to get.
The Fed has said since January that it plans to keep short-term interest rates at "exceptionally low levels" at least through late 2014.
The Federal Open Market Committee, the Federal Reserve's policy-setting panel, has reiterated plans to keep rates at exceptionally low levels at least through late 2014.
Lacker, who opposed additional asset purchases and preferred to omit the description of the time period over which exceptionally low levels for the federal funds rate are likely to be warranted.
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That was the meaning of the announcement of the US Federal Reserve that it anticipates holding its official interest rate, the so-called federal funds rate, at exceptionally low levels "at least" through mid-2013.
The FOMC also says it continues to anticipate economic conditions, including low rates of resource utilization, subdued inflation trends and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period.
His term doesn't expire until 2014, about a year into Obama's second term. (It's an ultimate irony that Bernanke will be gone -- if not reappointed -- before the 2015 date that the Federal Open Market Committee currently has as its target for keeping interest rates at exceptionally low levels).
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The Environment Agency said 80% of river flows were now above normal or higher, with reservoirs showing a good recovery and just 11 groundwater sites below normal water levels - and two "exceptionally low".
The flooding, which began on the night of 31 January, was caused by a combination of a high spring tide, deep atmospheric low pressure which raised sea levels and exceptionally strong northerly gales, which led to a surge of sea water over coastal defences.
Right now, conditions for buyers are exceptionally good, because current mortgage rates are at record low levels, and housing prices are still well off their peaks.
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