Fed Holds Rates Steady Again
03/21/2007
Finance
By: Tim Bain
The Federal Reserve Board left its target for the federal funds rate at 5.25% at its meeting today, March 21, 2007. This was the sixth consecutive time the board held the rate steady. The Fed's closely watched statement indicated the central bank is more concerned about slowing growth than it had been in recent months. That may be a forecast for a continued holding pattern or even rate declines later this year.The federal funds rate is an overnight bank lending rate that affects rates on various types of loans such as variable-rate mortgages and credit card rates, among others. The rate may also impact rates on various investment and insurance products offered by life insurance companies.
