FED LEAVES INTEREST RATES ALONE
"In the view of theFed, the economy is basically on track," says economics correspondent Adam Zagorin. The Federal Reserve decided to leave the key federal funds rate unchanged at 5.75 percent, despite analysts' expectations this summer that a rate cut in July (the first in three years) might herald a succession of measures to stimulate the economy. Zagorin saysGreenspanmay push for further rate cuts in the fall, "but with a healthy 2.5 growth rate expected for the remainder of the year, he's currently not under much pressure to do so."
Most Popular »
- How Cash Keeps Poor People Poor
- E.T. Turns 30: 10 Things You Didn't Know About Our Favorite Extraterrestrial
- 15-Year-Old Creates Test for Pancreatic Cancer
- Fourth Flesh-Eating-Bacteria Case Confirmed in Georgia, Possible Fifth
- Nevada Ghosts: Rare Photos From an A-Bomb Test
- A New First Amendment Right: Videotaping The Police
- Euro Crisis: Why A Greek Exit Could Be Much Worse Than Expected
- 10 Dangerous Products You Might Have in Your Home
- No Spontanaeity Allowed: How to Visit North Korea as a Tourist in Four (Restrictive) Steps
- Could a Fertility Gene Discovery Lead to New Male Contraception?
- Researchers Probe the Potential Health Benefits of Palm Oil
- A Visit with Turkey's Controversial Religious Movement
- Feeding the Planet Without Destroying It
- Bubble on the Potomac
- Falcon's Liftoff: How a Private Firm Could Change Space Exploration
- The Fatal Flight of the Superjet 100: Why Did It Slam Into a Mountain?
- Learning That Works
- The Man Who Remade Motherhood
- Bibi's Choice
- Seoul: 10 Things to Do
More News from Our Partners
Top Stories on TIME.com
Quotes of the Day »
RAY KELLY, New York City Police Commissioner, on the arrest of a New Jersey man in one of the nation's most baffling missing-children cases, the disappearance more than three decades ago of 6-year-old Etan Patz.
