WASHINGTON - The Federal Open Market Committee said it is leaving the federal funds rate unchanged at 1.75% based on signs that the U.S. economy is gaining strength. The decision to allow the key rate to remain unchanged follows 11 consecutive cuts last year that dropped the overnight rate from...

Special to CU Times WASHINGTON - Credit unions could experience a "modest surge" in new car financing activity in the first quarter, thanks to the decision by U.S. carmakers to replace 0% financing with big rebates, according to CUNA economist Bill Hampel. The rebates of $2,002 on General Motors cars,...

WASHINGTON - Consumer confidence in the economy rose sharply in December, a sign consumers see a rosier future for business and job conditions, the Conference Board reported.

WASHINGTON - As Congressional wrangling over the economic stimulus package stretches into 2002, any impact it could have on curing the recession diminishes while its potential for causing price inflation down the road increases.