No Change in Key Interest Rate
Source: http://Blog.QualityStocks.net/?p=12395Posted on Tuesday, September 16th, 2008 | In Small & Micro Cap
Contributed by: QualityStocks (http://QualityStocks.net) -
Even as pressure on the financial markets rose dramatically, the Federal Reserve left the federal funds rate unchanged on Tuesday. This rate determines the interest applied by banks to overnight loans, and, at least for now, will remain at two percent. The Fed has expressed its preparedness to “act as needed to promote sustainable economic growth and price stability”, however, refused to concede that the current struggles of the American economy warranted immediate action in the form of a rate-cut.
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