Fed to Keep Interest Rate Near Zero for 2 years

By: Associated Press
By: Associated Press

The Federal Reserve says it will likely keep interest rates at record lows for the next two years after acknowledging that the economy is weaker than it had thought with increasing risks.

The Fed announced that it expects to keep its key interest rate near zero through mid-2013. It has been at that record low since December 2008. The Fed had previously only said that it would keep it low for "an extended period."

The more explicit time frame is aimed at calming nervous investors, giving them a clearer picture of how long they will be able to obtain ultra-cheap credit.


KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 127321918 - kbtx.com/a?a=127321918
Gray Television, Inc.