WASHINGTON AP-Showing a tough love stance for now, Federal Reserve Chairman Ben Bernanke and his colleagues decided to keep a key interest rate steady Tuesday. They acknowledged stresses in financial markets have grown, though, and hinted they stood ready to lower rates if needed.
Wreckage on Wall Street in recent days did not force the Fed – as some thought possible – to reverse course and cut rates. The Fed left its key rate at 2 percent for the third straight meeting. It marked the first meeting this year the Federal Open Market Committee, which sets interest rate policy, agreed unanimously with a decision.
