Fed Leaves Interest Rates Unchanged

The Federal Open Market Committee ("FOMC") did not change the Federal Funds Rate, commonly referred to as Fed Funds.  The Fed Funds rate was left at an exceptionally low level or range of 0% to 0.25%.

Given current economic environment of a slow recovery combined with declining inflationary concerns, the FOMC has indicated that they will keep the Fed Funds target rate low for an extended period of time.

The FOMC would like to see some staying power in the economic recovery process, as well as further employment growth and lower unemployment before making any changes to the Fed Funds rate.  Therefore, Fed Funds rates appear to be staying where they are through 2010 and probably into 2011.