Fed Move Would End Period of Cheap Borrowing

By Jim Zarroli

Published June 29, 2004 at 12:00 AM EDT

Federal Reserve policy-makers will likely approve a small increase in the short term interest rates it controls. The economy has been heating up and the Fed wants to keep inflation from getting out of hand. If the Fed does move tomorrow it will mean that a long period of historically low interest rates is coming to an end. NPR's Jim Zarroli reports.

Jim Zarroli

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.

See stories by Jim Zarroli

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