Summary
WASHINGTON -- The Federal Reserve held interest rates steady Thursday, extending a yearlong breather for borrowers. Although policymakers observed improvements on inflation, they made clear they were not ready to declare victory on that front.
Wrapping up a two-day meeting, Fed Chairman Ben Bernanke and his central bank colleagues left an important interest rate at 5.25 percent, the same as it was last June. The decision was unanimous.See the full content of this document
Extract
Fed Holds Interest Rates Steady
The Fed's decision means that commercial banks' prime interest rates -- for certain credit cards, home equity lines of credit and other loans -- should stay at 8.25 percent.
Before the Fed's yearl...See the full content of this document
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