Instead of a shocking new episode of "Big Brother," the Federal Reserve served up something more akin to a comforting rerun of "Murder, She Wrote" at the end of its two-day monetary policy meeting. The Fed's statement was very similar to the others issued this year and included the announcement of another planned cut of $10 billion in the monthly purchases of bonds that the central bank has been using to help stimulate the economy. The central bank again said it would continue to keep interest rates low for "a considerable time" after the stimulus ends.
The predictability is exactly what the financial markets were tuned in for.
In this podcast, Bankrate.com Washington bureau chief Mark Hamrick and chief financial analyst Greg McBride talk about what it all means for your finances and whether it's time to start preparing for the eventual day when the Fed starts raising interest rates again.
Low rates, less stimulus
The Federal Reserve again lowers the dosage of its economic medicine while continuing to hold down interest rates. When should you brace for rising rates?