MW: Fed holds steady on policy but is not unanimous
By Greg Robb
WASHINGTON (MarketWatch) -- The Federal Reserve on Wednesday held steady on monetary policy but was not unanimous. The Fed held interest rate policy steady and repeated it expects to hold interest rates low for extended period. The Fed said that it would end its program to by mortgage backed securities at the end of March. Kansas City Fed president Thomas Hoenig dissented. He wanted the Fed to get rid of its pledge to keep rates low for an extended period. In its statement, the Fed was slightly more upbeat about the economic outlook. The Fed said it would end its TAF program in March. Under that program, the Fed has auctioned credit to banks.
