US rates on hold

Federal Reserve chairman Alan Greenspan chose to steer a steady course today and leave US interest rates on hold for the third time this year.

US rates on hold
Tue, 07 May, 2002 - 20:33

Federal Reserve chairman Alan Greenspan chose to steer a steady course today and leave US interest rates on hold for the third time this year.

The Fed slashed the cost of borrowing in 2001 but tonight it kept rates steady at 1.75% as the US economic recovery tentatively continued.

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