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Fed Funds Up

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The Federal Reserve raised the “target for the federal funds rate” to 2.5% up 25 basis points (0.25 percentage points). Their statement shows that their decision is based on the idea that inflation is “realitvely low.”

I expect the interest rate on my savings account will follow suit, especially since the competition has leapfrogged in the last month.

Published or updated February 2, 2005. 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 .