Wednesday, July 1, 2009

Fed keeps rates the same: cites 'subdued' inflation

MADISON, Wis. (6/25/09)--The Federal Open Market Committee on Wednesday voted unanimously to keep the target for the federal funds rate at a record-low range of zero to 0.25%. In a statement following the meeting, the Fed said "economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period of time."

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