- College algebra to be removed from Southeast required curriculum (10/10/17)1
- State declares test results for schools invalid (10/4/17)2
- Child-custody advocate: State law needs fix to provide parents with more equal custody (10/12/17)
- One of Cape's oldest mom-and-pop restaurants opens in new location (10/10/17)
- Past Rowdy the Redhawk mascot's identity revealed (10/15/17)
- Cancer will 'change your life, but it doesn't have to rule it' (10/8/17)
- Police chief, council: Cape Girardeau faces growing gun violence (10/17/17)4
- Bills addressing equal child custody to be filed, legislators say (10/13/17)
- Developer asks court to OK tax district board for improvements near Hobby Lobby (10/17/17)4
- Sikeston singer moves on with 'The Voice' (10/16/17)
Fed boosts key interest rate for 11th time
WASHINGTON -- The Federal Reserve on Tuesday boosted a key interest rate for the 11th straight time and signaled that more rate hikes were likely even as the country recovers from the devastating effects of Hurricane Katrina.
The action pushed the Fed's target for the federal funds rate -- the interest that banks charge each other -- to 3.75 percent. That's the highest level since the summer of 2001.
Some economists had believed that Katrina, the country's costliest natural disaster, might prompt the Fed to pause temporarily in its campaign to drive interest rates higher to keep inflation in check. But Federal Reserve Chairman Alan Greenspan and his colleagues said that Karina's impact on the overall economy was likely to be temporary.