Advertisement
YOU ARE HERE: LAT HomeCollections

Business Briefing

The Economy

Fed chief expects low interest rates

October 09, 2009|Times Wire Reports

Federal Reserve Chairman Ben S. Bernanke sent a fresh signal that he's in no rush to reverse course and start boosting interest rates.

The Fed's key bank lending rate is at a record low near zero and will probably stay there for an "extended period," Bernanke said at a Fed conference in Washington.

That echoed the pledge he and his colleagues made at their meeting in late September. The goal: Super-low rates will entice people and businesses to spend more, nurturing the budding recovery.

Advertisement
Los Angeles Times Articles
|
|
|