Fed leaves rate alone

Last Update: 11/04 3:39 pm

Flags fly over the Federal Reserve Building on December 16, 2008 in Washington, D.C. (Mark Wilson, Getty Images)

WASHINGTON (AP) — The Federal Reserve says the nation's economy continues "to pick up" but it plans to keep its key interest rate at a record low for an "extended period."

The Fed notes that the housing market, a key ingredient to a sustained recovery, also has grown stronger, but warns that joblessness and tight credit could hold back the recovery.

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