Federal Reserve Expecting Unemployment Rate to Drop - kcentv.com - KCEN HD - Waco, Temple, and Killeen

(KCEN) -- The Federal Reserve delivered mixed news about the future.

The U.S. Central Bank said there is more consensus that the unemployment rate will drop.

As of last month, the U.S. unemployment rate stood at 7.7 percent.

The Federal Reserve says it expects it could fall as low as 7.3 percent before the end of the year.

Fed policymakers voted to keep short-term interest rates near zero and will continue to buy billions of dollars in mortgage-backed securities as part of an on-going effort to stimulate the economy.