RateAPY

The FOMC Leaves Interest Rates Unchanged, Again

Posted by: RateAPY Bank Rates News
March 17th, 2010

The FOMC met today to discuss U.S. monetary policy. As expected, they decided to leave their main interest rate, the Fed Funds Target Rate, unchanged. The current target of 0.000%-0.250% has been in place over a year in order to stimulate the struggling U.S. economy.

Interest Rates Still Low for “Extended Period”

Economists and analysts around the world were watching specifically to see if the committee changed the language in its press release regarding interest rates remaining low for an “extended period.” Opinions were split on whether the economy was improving enough to warrant a change. Had the committee dropped the “extended period” language, it would have been considered a signal to the world’s markets that an interest rate hike is getting closer.

Today’s FOMC decision affects the interest you can earn on your savings accounts, money market accounts and certificates of deposit. Shop online to compare the highest yields available and start earning more on your deposits today.