Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Federal Reserve leaves key interest rate unchanged, citing global problems and low inflation

 


WASHINGTON — The Federal Reserve ended weeks of speculation Thursday by keeping U.S. interest rates at record lows in the face of threats from a weak global economy, persistently low inflation and unstable financial markets.

But at a news conference after a Fed policy meeting, Chair Janet Yellen said a rate hike was still likely this year. A majority of Fed officials on the committee that sets the federal funds rate — which controls the interest that banks charge each other — foresee higher rates before next year. The Fed will next meet in October and then in December.

http://www.startribune.com/fed-leaves-key-interest-rate-unchanged-citing-low-inflation/328072791/

 

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