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KIMT NEWS 3 — A move by the Federal Reserve is shocking quite a few people today.
The Fed announced today they will continue their 85 billion a month bond purchase program.
It’s designed to keep long-term loan rates low and to encourage spending.
Most economists had expected a slight reduction in the program.
Now, it has many financial experts asking questions on why changes haven’t been made.
“Is our economy not doing quite as well as we thought it was?” ISC Financial Advisor Owner Rich Murray said. “That’s part of the reason I think they’re going to continue on with this program is the economy is doing as well, unemployment hasn’t been coming down as fast as they thought it would.”
The reserve predicts the economy will grow just two percent this year that’s down from its previous forecast in June.