As Expected, Fed Holds Steady

Federal funds rate stays at 2% as bank ends 10-month run of cuts
By Newser Editors and Wire Services
Posted Jun 25, 2008 1:40 PM CDT
As Expected, Fed Holds Steady
Federal Reserve Chairman Ben Bernanke.   (AP Photo)

The Federal Reserve decided today leave a key interest rate unchanged, bringing an end to a string of consecutive rate cuts aimed at keeping the country out of a deep recession. The federal funds rate will remain at 2%—the first time in 10 months the Fed has failed to reduce interest rates at one of its regular meetings. (More Federal Reserve stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X