The Federal Reserve left its key interest rate near 0% once again Tuesday and said rates should stay this low for the foreseeable future.
Fed policymakers repeated their prediction that economic conditions are likely to result in "exceptionally low levels of the federal funds rate for an extended period." That promise of an easy-money policy has been in place since March 2009.The so-called fed funds rate, a benchmark that determines the interest paid by consumers and businesses on a wide variety of loans, has been near 0% since December 2008, as the central bank worked to spur greater lending and economic activity.
- NEW YORK (CNNMoney.com)
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