Federal Reserve Blog

Americans are borrowing more for cars and college, but remain cautious about credit cards and riskier investments.

Consumer debt grew in the final quarter of 2012, marking the first increase in household debt in more than four years.

The Federal Open Market Committee met on Jan. 29 and 30 and decided to continue purchasing $40 billion of agency mortgage-backed securities per month and $45 billion of longer-term Treasuries per month.

The Fed sticks with a target for the benchmark rate of between zero percent and 0.25 percent. That’s nice for borrowers but not for savers.

The Federal Reserve says it will keep the federal funds rate near zero percent until joblessness drops.

FOMC members are split on when to end quantitative easing, some favoring as early as the end of this year.

The Federal Reserve chairman spoke about why he’s worried about the “fiscal cliff” and how the Fed’s transparency on rate movement will benefit markets.

The FOMC left the benchmark rate low and expanded the stimulus program known as QE3 — but tied its rate forecast to unemployment and inflation.

The FOMC will keep the federal funds rate at its current ultralow level and voted to expand the bond-buying program announced in September, known as QE3.

The final Beige Book for the year was released today by the Federal Reserve. It showed modest growth in various industries across the country and some slowing.