Federal Reserve Extends Record Low Interest Rates, U.S. Stocks Rebound

Stocks surged Tuesday after the Federal Reserve pledged to keep interest rates at their historic lows at least through mid-2013 -- a sign of how serious the Fed is about heading off another recession, and how few tools it has to accomplish that task. READ THE FULL FED STATEMENT HERE The Dow Jones industrial average rose 430 points, or 4 percent, to 11,239 at the 4 p.m. close in a wild session of swinging prices. Gainers included Bank of America, up 17 percent, and Alcoa, up 8 percent. On...Full Story
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