Fed Leaves Key Rate Unchanged

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

The New York Sun

WASHINGTON — The Federal Reserve says strains in financial markets have “increased significantly” but it kept a key interest rate unchanged.

The central bank said today it was keeping its target for the federal funds rate, the interest that banks charge on overnight loans, unchanged at 2%.

In a statement, the Fed said “strains in financial markets have increased significantly and labor markets have weakened further.”


The New York Sun

© 2024 The New York Sun Company, LLC. All rights reserved.

Use of this site constitutes acceptance of our Terms of Use and Privacy Policy. The material on this site is protected by copyright law and may not be reproduced, distributed, transmitted, cached or otherwise used.

The New York Sun

Sign in or  Create a free account

By continuing you agree to our Privacy Policy and Terms of Use