Fed Keeps Rates the Same

The Federal Reserve has kept the Fed Funds Rate at zero today.

The Federal Reserve repeats its pledge to hold interest rates at record lows to foster the economic recovery and ease high unemployment.

But its decision draws one dissent. Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, for the second meeting in a row opposes keeping the yearlong
pledge.

We're into the third year of the Fed Funds Rate being at this obscenely low level. We'll see the implications if and when the economy recovers.