Fed policy on buying Treasury bonds stays on track

The Washington Post reports:

The Federal Reserve will continue to buy bonds and keep short-term interest rates near zero, the central bank said after a policy meeting Tuesday, reflecting the nation's weak economy.

Six weeks after it unveiled plans to buy $600 billion in Treasury bonds in a gambit to prop up growth, Fed leaders showed no signs of backing away despite a round of sharp criticism for the move and a recent rise in long-term interest rates.