Fed holds interest rates steady

Thursday June 29 by Claudia bourneusatoday
The Federal Reserve left a key interest rate unchanged today in a decision widely expected by economists and Wall Street analysts. Amid signs that the red-hot economy may be cooling a bit, the Federal Open Market Committee (FOMC), the Fed's policymaking arm, left its target for the federal funds rate, which banks charge each other for overnight loans, at 6.5%. It also left the mostly symbolic discount rate on Fed loans to banks unchanged at 6%.





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