Aversa, AP (Economics Writer): Fed ready to provide fresh help to stem economy’s slide; rates will stay at record lows
The Federal Reserve signaled Wednesday that it stands ready to use new unconventional tools, or expand existing ones, to spur lending and consumer spending that could help lift the economy out of a painful recession. The Fed also agreed to keep the targeted range for the federal funds rate between zero and 0.25 percent for “some time” to help brace the economy.
Jamaica Observer: “Prices Soar in January”
The downward spiralling dollar, which has dropped in value against its major trading counterpart – the US – by almost six per cent since the start of 2009, has prompted distributors to increase their prices by as high as 15 per cent, while others who operate in highly competitive market segments have begun seeing huge foreign exchange losses pose the threat of closing them down altogether.