Interest Rate Increases for First Time In Four Years - KCBD NewsChannel 11 Lubbock

6/30/04

Interest Rate Increases for First Time In Four Years

For the first time in four years, the Federal Reserve has raised short-term interest rates.

The Fed raised the rate one quarter percent Wednesday, which now stands at 1.25%.

One local expert points out that this move was anticipated. "People need to realize we're still in a very attractive interest rate as far as consumers are concerned," said Greg Jones, ASB Vice President.

Jones adds that the reserve could raise the rate again when it meets in August.

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