Fed Takes Pause, Leaves Rate Unchanged
Aug 8, 3:01 PM EDT
Source: AP.org
By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON (AP) -- The Federal Reserve on Tuesday left a key interest rate unchanged, marking at least a temporary pause in what had been the longest unbroken stretch of Fed rate increases in recent history.
The Fed's rate-setting committee voted 9 to 1 to leave the federal funds rate, the interest banks charge on overnight loans, at 5.25 percent. It was the first time the Fed had met and not raised rates in more than two years.
This is good news for the Gawfer household as we are quickly approaching ReFi time on our humble abode.
WooHoo!!
Source: AP.org
By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON (AP) -- The Federal Reserve on Tuesday left a key interest rate unchanged, marking at least a temporary pause in what had been the longest unbroken stretch of Fed rate increases in recent history.
The Fed's rate-setting committee voted 9 to 1 to leave the federal funds rate, the interest banks charge on overnight loans, at 5.25 percent. It was the first time the Fed had met and not raised rates in more than two years.
This is good news for the Gawfer household as we are quickly approaching ReFi time on our humble abode.
WooHoo!!
posted by Gary | 1:50 PM
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