- Few Southeast students face suspension, expulsion for sexual assaults, campus paper finds (4/25/17)5
- Pilot House goes smoke-free (4/23/17)10
- Woman battered after smashing boyfriend's meth pipe against wall, police say (4/25/17)1
- Event includes the first public tour of 200-year-old Elmwood Manor (4/23/17)3
- BBB warns Jackson man's online business might not be legit (4/24/17)
- Cape councilman Bob Fox to run for mayor (4/21/17)5
- Cape couple turns their home into cozy, comfortable music venue (4/24/17)
- Perryville family organizing bone-marrow drive Friday for ailing 6-year-old boy (4/26/17)
- Without city record, Marie Street residents on hook for thousands in sewer repairs (4/19/17)7
- Sikeston man charged in shooting death of Cape man (4/23/17)
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.