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Stocks jump after Fed's low-rate pledge

Posted By -NO AUTHOR- On 01/25/2012 @ 6:39 pm In Money | No Comments

(CNN/MONEY) NEW YORK — U.S. stocks shaved early losses and ended higher Wednesday afternoon after the Federal Reserve said it plans to keep interest rates near historic lows through late 2014.

The Fed, which issued a statement at the end of a two-day policy meeting midday Wednesday, had previously said it would hold rates low through mid-2013.

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