Interest rates on low hold, deficit on dangerous slide

AP Financial
by Daan Diederiks

"The US Federal Reserve decided on Wednesday not to change the basic interest rate and keep it on 1%.

The Federal Open Market Committee (FOMC) said in the statement accompanying the decision that it vowed 'to be patient' to raise the rate in the future.

Previously, the Committee had said it would keep interest rates low for a 'considerable period'.
This change was interpreted by the market as a possible rise of the basic rate , probably before the autumn election period. Although many Democrats think the Fed has a Republican bias, economists hold that the Fed wants to keep away from being accused of mingling into politics. Therefore it has never changed rates after august in an election year. "

Labels: United States

- posted by DD @ 3:25 p.m. Perma Link/Print   (0) comments

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