- Cape student sues, accuses school officials of slamming her to ground multiple times (04/28/16)46
- Neelys Landing man shot, killed by highway patrol trooper after traffic stop (05/01/16)41
- Bob Evans restaurant in Cape Girardeau among chain's 21 closings (04/26/16)9
- Missouri House votes to allow concealed weapons without permits (04/28/16)8
- Police report filed, but no charges in incident at Cape Central (04/29/16)40
- Two hurt in motorcycle wreck on Interstate 55 (04/25/16)1
- 2016 All-Missourian Boys Basketball (04/29/16)
- Senator introduces bill for I-57 that would connect Sikeston with Little Rock (04/28/16)4
- Law firm requests information about Cape's traffic cameras (04/25/16)3
- Local lawmakers split over failed medical marijuana bill; voters may have a say (04/26/16)19
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.