Fed: Interest Rates to Stay at Record Low Levels

Fed: Interest Rates to Stay at Record Low Levels

In the wake of a slowing real estate market, the Federal Reserve said Wednesday that the economy is “proceeding” and pledged to hold interest rates at record low, near zero rates.

One piece of good news, released simultaneously with the Fed’s report, was a survey of CEOs of large U.S. companies, 39 percent of whom said they expect to increase the number of people on their payrolls in the second half of 2010.

Source: Associated Press, Alan Zibel (06/23/2010)