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Fed News   Fed announcement: Aug. 5, 2008
  The Federal Reserve's Open Market Committee has decided again to keep  
  the federal funds rate at 2 percent. What does this mean for you?  
Sign up for the Fed Alert
Table of contents

Breaking Fed news
 
The Federal Open Market Committee chose to leave rates untouched at 2 percent. What does the decision to stand pat mean to you?
 
Federal Reserve announces it will stay put on rates
Find out how the Fed's decision will affect you and the economy. Read on
Translating what the Fed said
Do you speak Fed? Fear not, we'll translate what was said for you. Read on
Winners and losers in the Fed decision
Just because rates weren't raised or lowered doesn't mean there aren't winners and losers. Find out which one you are. Read on
Smart strategies after a Fed meeting
Take advantage of the hold on the federal funds rate by following these smart moves. Read on
Quiz: How well do you know the Fed?
Think you are always one step ahead of the Fed? Take our quiz on how well you really know the FOMC. Read on
Glossary
Get help understanding some economic lingo such as GDP, PCE, monetary policy and more. Read on

The Federal Open Market Committee
The rate-setting Federal Open Market Committee meets at least eight times a year. Its members include the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York and a rotating selection of presidents of the other 11 reserve banks. Its members are:
  • Ben S. Bernanke, Board of Governors, chairman
  • Timothy F. Geithner, New York, vice chairman
  • Richard W. Fisher, Dallas
  • Donald L. Kohn, Board of Governors
  • Randall S. Kroszner, Board of Governors
  • Sandra Pianalto, Cleveland
  • Charles I. Plosser, Philadelphia
  • Frederic S. Mishkin, Board of Governors
  • Gary H. Stern, Minneapolis
  • Kevin M. Warsh, Board of Governors
  • Elizabeth A. Duke, Board of Governors
    		•

    Bankrate.com's corrections policy -- Posted: Aug. 5, 2008
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    TABLE OF CONTENTS
      Results of August meeting
      Translating the Fed
      Winners and losers
      Smart strategies
      Glossary
    CDs and Investments
    Compare today's rates
    NATIONAL OVERNIGHT AVERAGES
    1 yr CD 3.99%
    2 yr CD 4.15%
    5 yr CD 4.72%
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