Federal Reserve

(Newser) - The Fed held the benchmark interest rate steady at 5.25% today in an unsurprising statement that prompted little reaction from the market. The unanimous vote reflects concerns about a faltering housing market, slowed growth, and persistent fears about core inflation, which the Fed continues to consider "somewhat elevated....

(Newser) - The country's economic growth has dwindled to its lowest rate in four years, with the housing slowdown, high energy prices, and a looming trade deficit driving lower-than-expected numbers released today. The economy grew 1.3% in the first quarter of 2007, down from 2.5% in the last three months...