Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
November 17, 1999
Fed raises interest rates - growth too strong
For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!
HINGTON -- Short-term interest rates were raised yesterday by the Federal Reserve, which cited inflation worries. The Fed did, however, adopt a neutral policy, indicating that they would not be raising rates again soon.

The federal funds rate, the rate that banks charge one another on overnight loans, was increased from 5.5% from 5.25%

The fed said in a statement that "although cost pressures appear generally contained, risks to sustainable growth persist," and that inflation pressure "continues in excess of the economy's growth potential."

One economic measure that could have triggered the rate rise is third-quarter gross domestic product, which increased from 1.9% to an annual rate of 4.8% this quarter.

Although productivity continues to look positive and wage rates are growing in moderation, the Fed said that: "the pool of available workers willing to take jobs has been drawn down further in recent months, a trend that must eventually be contained if inflationary imbalances are to remain in check and economic expansion continue." Unemployment rates were at the lowest rate in 30 years in October, at 4.1%.

Featured Free Resource:
Cost Per Hire Calculator
Twitter  Facebook  Linked In
Follow Us
Copyright © 2017 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on
Document URL: