Treasurys fell from their highs Wednesday after the Federal Reserve left its key interest rate unchanged and offered a slightly more upbeat assessment of the economy.

ROCHESTER, N.Y.—-Paychex, Inc. today announced total revenue of $496.6 million for the three months ended November 30, 2009 , a 5% decrease from the same period last year. Net income and diluted earnings per share decreased 10% to $125.8 million and $0.35 per share, respectively.

The Federal Reserve on Wednesday seized on easing U.S. job losses to voice growing optimism on the economy’s prospects, but repeated a vow to keep interest rates unusually low for “an extended period.”

U.S. stocks trimmed gains on Wednesday, with the Dow turning negative after the Federal Reserve reiterated its intention to keep interest rates low for the foreseeable future to ensure a sustainable economic recovery.

The government is spending $40 million in federal stimulus funds to pull water from underground aquifers in drought-stricken California, even as evidence is growing that the well-drilling boom could degrade the quality of water delivered to millions of residents.

Hopes for rapid progress on President Barack Obama’s health care overhaul dimmed Wednesday as Republican delaying tactics complicated the work of Senate Democratic leaders to line up 60 votes and move the bill.

The Federal Reserve kept its key interest rate near 0% and appeared ready to do so for the foreseeable future, after declaring Wednesday that despite signs of improvement, the nation’s economy is likely to remain weak.

Treasurys mostly fell Wednesday, giving back earlier gains, after the Federal Reserve held interest rates steady and said economic conditions continue to stabilize.

The U.S. government accused Intel Corp of illegally using its market dominance to stifle competition, in a lawsuit that seeks to stop the marketing practices that have helped maintain Intel’s status as the world’s biggest chip maker.