- Two subjects of interest in 1992 homicide to take polygraph tests (1/15/17)8
- Business notebook: Jackson salon owner also opens a clothing store (1/16/17)
- Young Elvis impersonator from Bernie performs on 'Ellen DeGeneres Show' (1/12/17)
- Cape SportsPlex contractor offers a look at the project (1/15/17)14
- Meat-processing plant faces $70K penalty for Clean Water Act violations (1/17/17)4
- Two men shot after argument; houses also struck by bullets (1/12/17)21
- Area hospitals hope a box helps prevent infant deaths (1/19/17)6
- Two Cape men recovering after shooting (1/13/17)
- Obama shortens sentence of inmate from Cape (1/19/17)9
- Subjects of interest in 1992 killing take polygraph tests; results not revealed (1/18/17)2
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.