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Bulletin: Fed Raises Rates to 5%

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BernankeAs expected, Ben Bernanke and the Federal Reserve Board raised the target for the federal funds rate to 5 percent. Here is the full statement.

I hope we’ll see some increases in savings account interest rates, but the climb is slow compared to the free-fall when the rates move in opposite directions.

Updated January 16, 2010 and originally published May 10, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

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