Today, the Federal Reserve announced that they would be keeping rates at their current levels through at least the end of 2014. The decision to leave rates alone, combined with the duration of the commitment (almost 36 months) will help keep short term rates in check. In prior announcements, the Fed has not ever committed to such a long term promise. The announcement is seen as positive one for the economy as a whole which should help keep borrowing costs down for businesses.
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