Fed Sees Hope For Economy; Keeps Rates Low
Posted by CJ de Heer on Tuesday, May 11th, 2010 at 3:45pm.An “extended period” is the timeframe the Federal Reserve Board has agreed to when it comes to the record-low interest rates were currently seeing. The 9-1 vote will keep energizing an economy that has been seeing some recent signs of life.
The Fed has given recent upbeat views of the economy, upgrading its view of the job market from “stabilizing” in March to its latest view of “beginning to improve.” While there’s still a long road to recovery, the current low rates are helping those in a position to take on new debt such as second mortgages.
Read the whole story: mercurynews.com
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