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Federal Reserve leaves interest rates unchanged

Federal Reserve leaves interest rates unchanged

WASHINGTON — Federal Reserve policy makers have just two more chances to raise short-term interest rates this year after taking a pass earlier this month and holding rates at their historically low levels for at least a while longer. The rate-setting Federal Open Market Committee (FOMC) slashed interest rates to zero in December 2008 to

Supreme Court lets swipe fee ruling stand

WASHINGTON — Trade groups representing many of the nation’s largest retailers expressed frustration after the Supreme Court on January 20 declined to take up their challenge to the Federal Reserve’s hotly debated rules for “swipe fees” assessed on credit card and debit card transactions. Retailers and other businesses pay the fees to banks and other financial