Fed: Low Interest Through 2013

The Federal Reserve says it will keep interest rates near zero for the next two years, acknowledging the economic recovery has been slower than it expected. Three Fed officials dissented with the decision. Stock markets climbed ahead of the Fed’s announcement, taking back some of the losses incurred during the sharp drop yesterday, but they were extremely volatile immediately following the statement. The Dow dropped, then recovered 222.8 points in six minutes.