Money

Fiscal crunch won't be immediate, budget scorekeeper says

The threat of rising federal deficits has a silver lining: low interest rates. Those low rates, which make Treasury debt less costly, mean Congress has more time to address the nation's fiscal challenges, the head of the Congressional Budget Office told lawmakers Wednesday. "When interest rates are low, as they are today, the cost of not acting is pretty modest," CBO Director Phillip Swagel ...

Fed leaves main rate unchanged, saying policy is appropriate

WASHINGTON - The Federal Reserve kept its key interest rate unchanged, as expected, on Wednesday and continued to signal policy would stay on hold for the time being as the U.S. enters a presidential election year. The target range of the federal funds rate of 1.5% to 1.75% is "appropriate to support sustained expansion of economic activity," the Federal Open Market Committee said, repeating ...