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 WASHINGTON (AP) - The Federal Reserve pledged Wednesday to keep a key interest rate at a record low for an "extended period," signaling that the weak economy remains dependent on government help to grow.
The Fed said economic activity has "continued to pick up" and that the housing market has strengthened — a key ingredient for a sustained recovery.
But Fed Chairman Ben Bernanke and his colleagues warned that rising joblessness and tight credit for many people and companies could restrain the rebound in the months ahead.
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