Federal Chairman Ben Bernanke and Central Bank end a nine-month rate slashing and keep the current federal short-term key rate at 2%. With on going concerns of inflation the Fed's majority voted to keep the key rate the same with only Dallas Federal Reserve Bank president Richard Fisher voted for a rate hike at the meeting. Rising cost of oil and other goods still place a strain on our current economy, but oil dropped almost $3 this afternoon after an unexpected announcement of oil surplus. You can read more here. Reading this lead me to remember an article on CNNMoney in the Fortune section suggesting that oil prices will crash much like the housing market, read that article here.

 
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2 Comments on Fed keep short-term key rates the same

JUN
25
2008
125,514 Points Outside Blog

Josh,

Good info!

Mike

 
2:16pm • #1
185,917 Points

Thanks for being the first to post this news on AR today.
2:21pm • #2


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