Fed Finally Pauses in August. Votes for No Rate Hike.
The Federal Reserve’s Federal Open Market Committee met today and decided to pause rate hikes, ending two years of rate hikes (with 17 straight increases dating to mid-2004). The benchmark lending rate will stay at 5.25% and the commercial bank prime lending rate at 8.25 percent. The vote was 9 to 1.
Written by Tim Schroeder on August 8th, 2006 with no comments.
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