FED to keep interest rates exceptionally low for "extended" period

The Federal Open Market Committee (FOMC) issued its policy statement today. They reaffirmed the Federal Reserve's intention to keep interest rates extremely low for what they termed an "extended" period. Most economists interpret that term to mean at least six months. This means that FED which has kept interest rates at near zero since the early stages of the economic crisis has no plans to tighten up on the nations money supply anytime soon. The supply of money is already at an all time high.

In response to this news Wall Street was up modestly, while the US Dollar Index fell below $80. Gold and silver were both up by more than 1.5% on the COMEX as concerns over potential inflation were revived among investors.