Fed Renews Pledge To Keep Rates Low for a Long Time

The U.S. Federal Reserve renewed its pledge on Tuesday to keep interest rates near zero for an "extended period" even as it sounded more upbeat about jobs.

The central bank's nod to a firmer job market after the deepest recession in decades offered a hint that it may be moving closer to dropping its promise to hold borrowing costs at rock bottom levels. It also had upbeat words on some business spending.