Fred Harteis News Articles - Caught between inflationary pressures and a weakening economy, the Federal Reserve’s policy makers voted on Wednesday to deal primarily with the weakening economy by keeping interest rates at their present level.
The decision to hold at 2 percent the key short-term federal funds rate — which affects what consumers pay for mortgages, car loans and other credit — brought to a halt a stream of rate cuts since August, reductions that brought the fed funds rate to its lowest level since November, 2004.
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