Leaked Fed forecast documents show interest rate remaining low
According to The Washington Post, leaked Federal Reserve forecast documents indicate that the Fed has no plans to significantly raise interest rates in the near term. The fed funds rate has been between zero and .25 percent since 2008. Though the buzz around Washington has led many to expect the rate to rise by the end of the year, the confidential forecast papers estimated the fed funds rate to be .35 during the fourth quarter. The documents also included estimates for inflation, unemployment and economic growth. The Fed is currently under investigation for intentionally leaking the confidential information to a financial consulting firm.