WASHINGTON, March 19 (UPI) -- The Federal reserve has discarded the jobless rate threshold for considering when to raise borrowing costs and will also scale back its bond-buying program.
During the second day of the Federal Open Market Committee, the dollar continued to post gains after the Fed announced that it would scale back its bond purchases by $10 billion to $55 billion. The announcement had little effect on the bond market, with the benchmark 10-year Treasury at 2.76 percent, up about 0.07 percentage points.