In its announcement of the decision, the Fed retained a pledge it has been making for the past year to move rates up "at a pace that is likely to be measured," a phrase that has been read by financial markets as signaling continued quarter-point moves in the future.
The decision by Federal Reserve Chairman Alan Greenspan and his colleagues came as the economy is growing at a solid pace even though it is being buffeted by rising oil prices, which earlier this week hit a record high above $60 per barrel.
The Fed's statement said even with the rise in energy prices, the economy has continued to grow at a respectable pace.
The decision by Federal Reserve Chairman Alan Greenspan and his colleagues came as the economy is growing at a solid pace even though it is being buffeted by rising oil prices, which earlier this week hit a record high above $60 per barrel.
The Fed's statement said even with the rise in energy prices, the economy has continued to grow at a respectable pace.
