Peruse the following link to the Federal Reserve and find the latest meeting minutes. Discuss how the Fed's latest interest rate decision might impact the economy.
The current press release date is August 5, 2008, according to this release the federal Open Market Committee decided to keep its target for the federal funds rate at 2 percent. In other words there was no change in the target rate for federal funds.
This decision will impact the economy in several ways. The federal funds rate is the interest rate at which private depository institutions lend balances (federal funds) at the Federal Reserve to other depository institutions. This is a powerful tool used to control the supply of money in the US economy. ...
This posting gives you an in-depth insight into the Federal Reserve