WASHINGTON (AP) - Record-low interest rates will be around for at least a few more months, the Federal Reserve made clear Wednesday.
Enjoy the easy money while it lasts.
By mid-2015, economists expect the Fed to abandon a nearly 6-year-old policy of keeping short-term rates at record lows. Those rates have helped support the economy, cheered the stock market and shrunk mortgage rates. A Fed rate increase could potentially reverse those trends.
Mortgages could cost more. So could car loans. Investors could get squeezed.
Fed keeps rates low, but brace for the inevitable: Associated Press
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