Federal Reserve, Unemployment Rate | featured news

The central bank said Wednesday that it would maintain short-term interest rates near zero, even after it stops buying bonds, for as long as the unemployment rate stayed above 6.5 percent.

U.S. employers in July hired the most workers in five months, but an increase in the jobless rate to 8.3 percent could keep prospects of further monetary stimulus from the Federal Reserve on the table.

Gold futures barrel to a new record high above $1,100 an ounce, as news that the U.S. unemployment rate topped 10.2% in October boost expectations the Federal Reserve will keep interest rates near zero well into next year, pressuring the dollar.