FED KEEPS SHORT-TERM RATE STATIC.Byline: William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack Gruber Gru·ber , Max von 1853-1927. Austrian bacteriologist noted for his work in serum diagnosis, including the discovery (1896) of the specific agglutination of bacteria by the blood serum of immunized animals. Chicago Tribune Chicago Tribune Daily newspaper published in Chicago. The Tribune is one of the leading U.S. newspapers and long has been the dominant voice of the Midwest. Founded in 1847, it was bought in 1855 by six partners, including Joseph Medill (1823–99), who made the paper To the surprise of practically no one, the Federal Reserve Open Market Committee made no change in its target for short-term interest rates Short-term interest rates Interest rates on loan contracts-or debt instruments such as Treasury bills, bank certificates of deposit or commerical paper-having maturities of less than one year. Often called money market rates. Tuesday. The central bank's monetary policy panel concluded a 4-1/2-hour meeting in Washington without issuing a statement. That meant its goal for the so-called federal funds rate Federal Funds Rate The interest rate at which a depository institution lends immediately available funds (balances at the Federal Reserve) to another depository institution overnight. , which banks charge for overnight loans to each other, will remain at 5.5 percent at least until the committee meets again in early July. The benchmark rate, which influences the levels of other short-term interest rates, has held steady since March 1997, when the committee nudged it up one-quarter of a percentage point amid concern that a strong economy at the time might result in increased inflation. Consumer prices have risen at just 0.9 percent in the last four months despite another period of robust economic growth. The gross domestic product advanced at a rapid annual pace of 4.2 percent in the first quarter of 1998 but has shown some signs of cooling since then. |
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