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June 27, 2008
Fed Holds Rate Steady as Inflation Worries Rise
The Federal Reserve on June 25 ended its aggressive campaign of interest rate cuts, holding its target for the federal-funds rate—charged on overnight loans between banks—at 2 percent. The decision to stand pat contrasts with recent actions by numerous central banks overseas that have begun hiking interest rates amid inflation concerns.
Posted by S. Germain at June 27, 2008 08:22 AM