Fed Raises Short-Term Interest Rate

By Jim Zarroli

Published August 10, 2004 at 12:00 AM EDT

Federal Reserve Board's decision ends period of 46-year lows.

As expected, Federal Reserve policymakers raise a key short-term interest rate by one quarter of a percentage point. The Fed Funds rate stands now at 1.5 percent.

In a statement, the Fed said that while growth and job creation have slowed, "the economy nevertheless appears poised to resume a stronger pace of expansion going forward."

Fed policymakers reiterated their belief that with inflation still relatively low, interest rates can be raised "at a pace that is likely to be measured." NPR's Jim Zarroli reports.

Federal funding is gone.

Congress has eliminated all funding for public media.

That means $2.1 million per year that Connecticut Public relied on to deliver you news, information, and entertainment programs you enjoyed is gone.

The future of public media is in your hands.

All donations are appreciated, but we ask in this moment you consider starting a monthly gift as a Sustainer to help replace what’s been lost.

Donate

SOMOS CONNECTICUT is an initiative from Connecticut Public, the state’s local NPR and PBS station, to elevate Latino stories and expand programming that uplifts and informs our Latino communities. Visit CTPublic.org/latino for more stories and resources. For updates, sign up for the SOMOS CONNECTICUT newsletter at ctpublic.org/newsletters.

SOMOS CONNECTICUT es una iniciativa de Connecticut Public, la emisora local de NPR y PBS del estado, que busca elevar nuestras historias latinas y expandir programación que alza y informa nuestras comunidades latinas locales. Visita CTPublic.org/latino para más reportajes y recursos. Para noticias, suscríbase a nuestro boletín informativo en ctpublic.org/newsletters.

Federal funding is gone.

Donate