Business Services Industry
Fed Says Dangers of Unwelcome Fall in Inflation Are Receding.
Knight Ridder/Tribune Business News, December, 2003
By Barbara Nagy, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Dec. 10--Federal Reserve policymakers left a benchmark U.S. interest rate at a 45-year low Tuesday, but appear to have taken a small first step toward raising rates -- probably not until next summer, analysts said.
That was good news to those looking for confirmation that the economy is improving, since a primary reason for raising rates is to regulate growth by making it harder to borrow.
To others, it was a disappointment.
Antonio Rodriguez, a Hartford business consultant and owner of Daniel Penn Associates, worries that higher rates will make consumers -- including his clients -- less willing to spend.
"The longer we maintain the low...
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