Fed to Keep Rates Near Zero
November 4, 2009
By Kevin Cafferty
The Federal Reserve kept its key interest rate near zero once again Wednesday. It released a statement saying that although the economy continues to improve, it intends to stay the current course.
The Fed's decision came just one week after the government reported that the economy grew in the third quarter, the first gain after declines over the previous four quarters.
While it was generally assumed that the central bank would leave its federal funds rate in a range of 0% to 0.25%, economists and investors were eager to see how the Fed described the economy in its statement.
Information courtesy of CNN
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