Gary's Blog

Thursday, January 28, 2010

Federal Reserve to Keep Record-low Rates

The Federal Reserve pledged yesterday to keep rates at the record lows (of ZERO PERCENT!) for the Federal Funds rate, the rate banks charge each other for overnight loans.

The Fed did say that business spending on equipment and software seems to be rising. And it said economic activity "continues to strengthen". If these assessments prove accurate, we will soon see small increases in this rate.

Now is the time, if you qualify, to borrow money, at these record-low rates. Maui real estate buyers, if on the fence, now is the time to get off!

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