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Fed News   Fed announcement: Sept. 16, 2008
  The Federal Reserve's Open Market Committee left the federal funds rate  
  unchanged at the last three meetings.  
Table of contents

Breaking Fed news
 
Today the Fed decided to keep the target federal funds rate at 2 percent.
 
Federal Reserve announces it will stand pat
Find out how the Fed's decision will affect you and the economy. Read on
Winners and losers after the Fed's decision
The Federal Reserve left interest rates unchanged. How will this affect your bottom line? Read on
Smart strategies after the Fed's decision
Take advantage of the Federal Reserve's decision to stand pat with these money moves. Read on
Glossary
Get help understanding some economic lingo such as GDP, PCE, monetary policy and more. Read on

The Federal Open Market Committee
The rate-setting Federal Open Market Committee meets at least eight times a year. Its members include the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York and a rotating selection of presidents of the other 11 reserve banks. Its members are:
  • Ben S. Bernanke, Board of Governors, chairman
  • Timothy F. Geithner, New York, vice chairman
  • Richard W. Fisher, Dallas
  • Donald L. Kohn, Board of Governors
  • Randall S. Kroszner, Board of Governors
  • Sandra Pianalto, Cleveland
  • Charles I. Plosser, Philadelphia
  • Gary H. Stern, Minneapolis
  • Kevin M. Warsh, Board of Governors
  • Elizabeth A. Duke, Board of Governors
  • Bankrate.com's corrections policy -- Posted: Sept. 16, 2008
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    NATIONAL OVERNIGHT AVERAGES
    1 yr CD 4.05%
    2 yr CD 4.22%
    5 yr CD 4.62%
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