Fed Keeps Interest Rates Unchanged
The Federal Reserve is sticking with the status quo… At least until its next policy meeting.
FOX News Radio’s Kirstin McNary reports:
Interest rates will remain at record lows for now…
(Yellen) “The first increase in the federal funds rate will be appropriate when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to it’s 2 percent objective over the medium term.”
Federal Reserve Chair Janet Yellen said there are no guarantees, but the economy does seem to be on track for a rate hike before the end of the year.
The short-term lending rate affects everything from mortgages to credit cards to savings accounts and it hasn’t been raised since 2008.
In Washington, Kirstin McNary, FOX News Radio.
