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Federal reserve holds interest rates steady

Federal Reserve Bank of Kansas City logoThe U.S. Federal Reserve Wednesday chose to keep its benchmark interest rate at current levels as economic growth has again been slower than The Fed predicted. Following a two-day meeting, The Fed also said it now expects to raise interest rates more slowly in coming years than it had previously anticipated. The New York Times suggests The Fed is struggling to adapt its plans to the reality of an economy that refuses to boom. Seven years after the official end of the recession, the news remains a mix of good and bad. Most recently, job growth has weakened even as broader measures of economic activity have picked up. A statement by The Fed said the domestic economy was feeling less drag from the weakness of the global economy, noting that exports have strengthened. However, Fed officials said before the meeting that they remained concerned about a relapse.

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