Fed likely will maintain policy as economic recovery continues

01/18/2010 | Wall Street Journal, The

Federal Reserve officials will meet Jan. 26 and 27 to discuss the economic recovery and their policy. Although the economy is expected to grow at a slower pace than policymakers would like, the central bank likely will stick with its stated plans. The Fed is set to unwind emergency lending programs next month, end mortgage buying at the end of March and keep interest rates low for the foreseeable future. "I think that we are going to be waiting for the economy to improve in a strongly sustainable fashion, and until that happens, then it's unlikely that we would be changing policy," said Charles Evans, president of the Federal Reserve Bank of Chicago.

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