Money | Federal Reserve Fed Leaves Rate at Record Low Says it wants to foster recovery By Newser Editors and Wire Services Posted Nov 4, 2009 1:43 PM CST Copied Federal Reserve Chairman Ben Bernanke addresses a meeting of the Chicago Economic Club, in this June 15, 2006 file photo taken in Chicago. (AP Photo/Brian Kersey, File) The Federal Reserve today held a key interest rate at a record low and again pledged to keep it there for an "extended period" to foster the fragile economic recovery. The Fed says economic activity has "continued to pick up" and that the housing market also has grown stronger, a key ingredient to a sustained recovery. It also said it will trim its purchases of debt from Fannie Mae and Freddie Mac to $175 billion, from $200 billion, because the debt is in short supply. Read These Next SCOTUS sounds skeptical about law banning gay conversion therapy. Felix Baumgartner's death attributed to his own error. Robin Williams' daughter: AI clips of him are 'disturbing' You might want to take mass transit instead of driving in this city. Report an error