fbpx
Home / Today's Top Stories / Fed ups interest rate again as Greenspan says goodbye

Fed ups interest rate again as Greenspan says goodbye

The Federal Reserve nudged a key interest rate up to the highest level in nearly five years on Tuesday as Alan Greenspan brought his long tenure as Fed chairman to a close, AP reported. At Greenspan’s final meeting, the central bank voted to boost its target for the federal funds rate to 4.5 percent. It was the 14th quarter-point move in a credit-tightening campaign that began 19 months ago. Greenspan’s successor, Ben Bernanke, is scheduled to take over on Wednesday as the Fed’s 14th chairman since the central bank was created in 1913.

x

Check Also

Jeff Pier

Child Care Council’s new leader sets eyes on growth, expanding initiatives (access required)

Like many sectors of the economy, child care has been hit hard by the COVID-19 crisis. In just a few ...

Aerial Stills 2014

Local colleges cautiously optimistic (access required)

Summer is typically a down time for colleges and universities, but local educators say this year has been anything but ...

new-york-sea-grant-logo

Lake Ontario flood risk tool will be topic of August webinar (access required)

With the threat of future flooding along the Lake Ontario shoreline still a concern, a Cornell University professor has developed ...