There are no reviewed versions of this page, so it may not have been checked for adherence to standards.
Tuesday, March 22, 2005
U.S. Federal Reserve raises interest rates
The U.S. Federal Reserve (Fed) today raised interest rates by 0.25 of a percentage point to 2.75 percent. The increase in the federal funds rate, the interest that banks charge each other, is seen as an anti-inflationary measure and was widely expected by the financial community.
It is the seventh time the Fed has raised interest rates since June 2004 when rates stood at just 1 percent -- a 46-year low.
The U.S. economy has been gaining strength since the economic downturn in 2001 and 2002. The rebound was largely fueled by historically low interest rates which enabled consumers to borrow much more money than they would have otherwise -- thus boosting personal consumption.
This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
