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News Link • Economy - Economics USA

Fed sees rates near zero for extended period

• Reuters
The U.S. Federal Reserve on Wednesday expressed growing confidence that an economic recovery was building, even though it stuck to its commitment to keep borrowing costs near zero for "an extended period."

In a unanimous vote, the Fed's policy-setting Federal Open Market Committee decided to keep its benchmark federal funds rate unchanged in a range of zero to 0.25 percent, as expected.

It said the economy had "continued to pick up" since its last meeting in September, but expressed concern that the economy's recovery was likely to be sluggish.

2 Comments in Response to

Comment by Lola Flores
Entered on:

 Why wouldn't they?  They give our money to their friends at zero percent interest so that their friends, in turn, can lend it back to us at six percent interest so that, effectively, we're paying interest on our own money.  It's a sweet deal for Wall Street and the banksters, why in the world would they ever do anything to change that?  Viva Geitner and the rest of Club Tel Aviv!

Comment by Jet Lacey
Entered on:

Beware the carry trade.....beware the carry trade. 

Hell, I wish I could borrow a few billion bucks from the Fed at negative interest rates adjusted for inflation to buy up some much needed infrastructure for myself.  I'm desperately short of infrastructure holdings at this point.  Too bad it's all going to the off-shore banks.  

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