Fed Again Holds Interest Rate at Record Low

The Federal Reserve for a seventh time voted Wednesday to keep a key U.S. interest rate at a record low “target range” of zero to 0.25%.

The Fed first lowered the key federal funds interest rate to that range last December.

“Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn,” the Fed said in a statement.

Click here to view the full Fed statement. (Federal Reserve Web site.)