- Krispy Kreme coming to Cape Girardeau (12/14/17)2
- Light and music show: Jackson family goes high-tech with Christmas display (12/11/17)
- Cape schools to get two new principals, assistant superintendent (12/13/17)1
- Former Wimpy's Drive-In owner Freeman Lewis dies (12/9/17)2
- Two Cape County residents, including former Jackson police officer, face burglary charges in Colorado (12/12/17)
- Jury convicts Scott City man who confessed to murder; girlfriend's testimony corroborates confession (12/9/17)
- Kelso resident brings home $60K in lottery winnings (12/14/17)
- Pedestrian struck on Broadway (12/11/17)4
- Wind brings down Wendy's sign in Cape Girardeau (12/11/17)2
- Feds ask judge to impose $6.5 million punishment for Cape surgeon (12/7/17)9
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.