Key Interest Rate Steady as She Goes Says Feds
A bit of possibly good news for commercial real estate investors was reported today in the New York Times as the interest rate was held steady, but this move is also seen as a reflection of our tougher financial times...
With jobs leaking from the economy month after month, Federal Reserve policy makers decided on Tuesday to keep the key interest rate they control at its current level of 2 percent.
Emphasizing the dangers to the economy, the Fed said in its statement that a substantial easing of interest rates in recent months, “combined with ongoing measures to foster market liquidity, should help to promote moderate economic growth.” However, the Fed warned that “tight credit conditions, the ongoing housing contraction and elevated energy prices are likely to weigh on economic growth over the next few quarters.”
Read full story »
