The Federal Reserve is doing its part to hold interest rates steady.
The Fed’s Open Market Committee kept its target for the federal funds rate unchanged today, at 2 percent. The prime rate will remain 5 percent. Home equity lines of credit and most variable-rate credit cards are indexed to the prime rate, so their rates […]

The central bank’s Federal Open Market Committee left the target for the federal funds rate at 2 percent, as expected. The prime rate will remain 5 percent. Most home equity lines of credit and variable-rate credit cards are based on the prime rate, and their rates will not change.
The rate-setting committee meets eight times a […]

With inflation moving higher on its worry list, the Federal Reserve held interest rates steady Wednesday, ending nearly a year of cuts to bolster the economy, and hinted that the next direction for rates could be up.
Fed Chairman Ben Bernanke and all but one of his central bank colleagues agreed that the best course was […]

Federal Reserve Chairman Ben Bernanke on Thursday hinted that another interest rate cut may be needed to bolster the economy. The worsening credit crunch, a deepening housing slump and rising energy prices probably will create some “headwinds for the consumer in the months ahead,” he said.
Bernanke said he expects consumer spending will continue to grow […]