Federal Reserve, U.s. Federal Reserve | featured news

Unemployment is likely to stay high for a long time, two Federal Reserve officials said on Wednesday, suggesting the U.S. central bank is in no rush to raise its ultra-low interest-rate policy.

The transfer, a record sum, was the result of the central bank’s actions to support the fragile housing market.

Central bank bumps up cost for emergency loans to banks, but says move on benchmark rate is not imminent.

The U.S. Federal Reserve this month asked banks that were part of "stress tests" conducted earlier this year that have not yet repaid money injected under the Troubled Asset Relief Program (TARP) to submit plans to do so, a person familiar with the situation said on Tuesday.

The U.S. Federal Reserve is expected to take note of an improving economy at the close of a meeting on Wednesday, while cautioning that high unemployment puts the recovery at risk.