Fed will not raise interest rates

The Fed is going to leave interest rates unchanged, NBC News is reporting.

The rate had been in the zero to 0.25 percent range since Dec. 16, 2008, when the committee cut it to help the U.S. economy pull out of a steep recession triggered by the housing crash.

The committee adjusts the federal funds rate — the interest rate that banks charge other banks on overnight loans — to influence the supply of money, control inflation and keep the economy stabilized.
Rate changes impact consumers in more direct ways, too. Don’t expect your finances to change overnight, but the Fed’s decision will influence certain financial products and services

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