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. Last Updated: 07/27/2016

Fed Rate Unchanged




WASHINGTON -- With the U.S. economy demonstrating continued strong growth despite a world slump, Federal Reserve policy-makers opted Tuesday to leave short-term interest rates unchanged.


The decision, leaving the benchmark rate on overnight loans between banks at a four-year low of 4.75 percent, follows three rapid-fire rate cuts this fall. The Fed cut the rate by a quarter-point on Sept. 29, Oct. 15 and Nov. 17, calming Wall Street, raising stock prices and loosening the flow of credit to business borrowers, which had threatened to freeze up in the world financial turmoil.