Feds Raise Key Interest Rate in June

The Federal Reserve raised the interest rate to 5.25 %, the highest it’s been in 5 years on Thursday after the end of a two day meeting in Washington.

Fed Chairman Ben Bernanke and other policymakers talked about the need to raise interests rates this time around to fend off the continued inflation that is occurring in the US economy. They also hinted the more interest rates hikes might be needed to fend off still more inflation over the next year.

This news came and gave the DOW a sizeable boost in early morning trading and ended the day up over 215 points, with the NASDAQ following suit at up 62 points. Gold and silver were both up as well on news of interest rates increases from the fed, trading on these commodities continues worldwide throughout the day and night.



   Posted in Federal Reserve, Interest Rates |    

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One Response to 'Feds Raise Key Interest Rate in June'

  1. Google Announces Google Checkout: Helps Impulse Buyers Everywhere ยป Erik Vossman’s Goals Weblog - June 29th, 2006 at 10:56 pm

    [...] With the announcement of yet another service for Google to add to their empire, as well as the the Fed Raising Interest Rates Again made Google stock (GOOG) jump 11 points today. Man, if Google even makes a peep it seems like the whole world stops to listen. [...]


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