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The Boston Globe


Fed cites unemployment in keeping interest rate low

WASHINGTON — The Federal Reserve made it plain Wednesday that job creation had become its primary focus, announcing that it planned to continue suppressing interest rates as long as the unemployment rate remained above 6.5 percent.

It was the first time the nation’s central bank had publicized such a specific economic objective, underscoring the depth of its concern about the persistence of what Fed chairman Ben S. Bernanke, called ‘‘a waste of human and economic potential.’’

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