Interest Rates

interest rates: Minutes of the Feds Sept. 17-18 meetings released Wednesday show that the Fed wrestled with the decision, even though the panel ended up voting 9-1 to keep the purchases at the current level of $85 billion a month. The bond purchases are intended to keep long-term interest rates low to encourage more borrowing and spending, according to 660 News. Still, some raised concerns that inaction would undermine the Feds effectiveness in communicating its next step. Many economists had predicted some reduction in the purchases. And some Fed members made comments ahead of the meeting that suggested such a move was likely and WASHINGTON Nearly every member of the Federal Reserve thought last month that the central bank should see more data before slowing its bond purchases. But worries about whether a delay would confuse markets made the decision a close call. According to the minutes, all members but one thought the Fed should see more evidence that the economys modest improvement could be sustained. And several noted weaker employment numbers, a rise in interest rates and potential threats from a budget impasse in Washington. (www.immigrantscanada.com). As reported in the news.