Fed Again Holds Interest Rate at Record Low

The Federal Reserve voted Wednesday to keep a key U.S. interest rate at a record low “target range” of zero to 0.25%.

The lowering of the key federal funds interest rate, which banks charge each other, followed the Fed’s lowering the rate in June to the historic record low rate and holding it there at its previous four meetings this year, the most recent in June.

Prior to that, the Fed in October lowered the rate from 2% to 1.5%, and then to 1%.

Click here for full statement from the Fed. (Federal Reserve Web site.)