The Federal Reserve announced this evening in a widely expected decision that it was keeping US interest rates unchanged at 5.25%.
The central bank has held its short term fed funds rate at 5.25% since June of 2006 in a bid to ward off inflationary threats.
The Fed's policymakers opted to hold interest rates steady despite mounting concerns about the distressed housing and mortgage markets and a related credit squeeze.
Some economists say such economic pressures will likely persuade the Fed to cut rates before the end of the year.
