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Tag Archives: interest rate

Fed announcement leaves credit card APRs unchanged

Jeremy Simon

This afternoon, the Fed announced that it was leaving interest rates unchanged for the first time since last summer. The decision followed seven straight rate cuts that lowered the fed funds rate to 2 percent from 5.25 percent back in September 2007, as the central bank worked to keep a troubled U.S. economy afloat.
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Fed lacked consensus on latest rate cut

Jeremy Simon

Earlier today, the Federal Reserve released the minutes from its March 18 meeting, following the usual lag between when the central bank makes monetary decisions and the sharing of the discussion that accompanies those decisions. Based on the latest set of minutes, the Fed experienced some internal disagreement regarding its move last month to cut interest rates by three-quarters of a point to 2.25 percent.
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