Federal Interest Rates
Associated Press
Published: November 4, 2009
Published: November 4, 2009
(AP) - The Federal Reserve is expected to keep interest rates at their already record low levels.
The central bank concludes a two-day policy-setting session. Experts think it will maintain the target for its bank lending rate at zero to 0.25 percent. That would keep commercial banks’ prime lending rates at about 3.25 percent. The prime rate is used for a variety of consumer loans and credit card rates.
Eonomists also say the Fed will likely stick to a promise to keep rates “exceptionally low” for an “extended period” to give the recovery some lasting power.
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