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SUNDAY, NOVEMBER 22, 2009
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5

Fed Leaves Rate at Record Low

Says it wants to foster recovery

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(AP) – The Federal Reserve today held a key interest rate at a record low and again pledged to keep it there for an "extended period" to foster the fragile economic recovery. The Fed says economic activity has "continued to pick up" and that the housing market also has grown stronger, a key ingredient to a sustained recovery.

It also said it will trim its purchases of debt from Fannie Mae and Freddie Mac to $175 billion, from $200 billion, because the debt is in short supply.

Federal Reserve Chairman Ben Bernanke addresses a meeting of the Chicago Economic Club, in this June 15, 2006 file photo taken in Chicago.
Federal Reserve Chairman Ben Bernanke addresses a meeting of the Chicago Economic Club, in this June 15, 2006 file photo taken in Chicago.   (AP Photo/Brian Kersey, File)
Federal Reserve Chairman Ben S. Bernanke gestures during an address in Chatham, Mass., Friday, Oct. 23, 2009.
Federal Reserve Chairman Ben S. Bernanke gestures during an address in Chatham, Mass., Friday, Oct. 23, 2009.   (AP Photo/Charles Krupa)
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maevealleine
Nov 4, 09 1:49 PM CST
Awesome. Lets start working on all the half-built houses across the country and hire some workers in the construction, transportation and building material manufacturing jobs. C'mon economy...you can do it. Nothings really changed, so there's nothing to be afraid of. Geez...at this point the crappiness of the economy is all in our heads. We need to start providing jobs...thats it. Reply
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maevealleine
Nov 4, 09 1:50 PM CST
Awesome. Lets start working on all the half-built houses across the country and hire some workers in the construction, transportation and building material manufacturing jobs. C'mon economy...you can do it. Nothings really changed, so there's nothing to be afraid of. Geez...at this point the crappiness of the economy is all in our heads. We need to start providing jobs...that's it. Reply
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+1
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maevealleine
Nov 4, 09 1:51 PM CST
ack sorry double post.
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attaboy
Nov 4, 09 2:05 PM CST
The only people/entities being helped by these "record low rates" are the people with all OUR money in the first place (ie. banks&bailouts). Want to help me out? Quit making the rich richer and maybe bail ME out of student loan debt ... but wait, that wouldn't make you any more money, my bad. Reply
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Netstorm2k9
Nov 4, 09 3:45 PM CST
"...because the debt is in short supply." Wow. That's an oxymoron if I ever heard one. Reply
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