{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: INTEREST RATES UNCHANGED' data-url='/boclips/videos/5c54bfccd8eafeecae145dfe' data-video-url='/boclips/videos/5c54bfccd8eafeecae145dfe' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: INTEREST RATES UNCHANGED\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/Nat Although the U-S economy is growing at a rapid rate, the Federal Reserve has decided to leave interest rates unchanged.It said it was still worried about inflation in the future and didn't want to upset financial markets so...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat \u003cbr/\u003eAlthough the U-S economy is growing at a rapid rate, the Federal Reserve has decided to leave interest rates unchanged.\u003cbr/\u003eIt said it was still worried about inflation in the future and didn't want to upset financial markets so close to Y-2-K.\u003cbr/\u003eThe decision was announced on Tuesday after a closed-door meeting of the Federal Open Market Committee - a Federal Reserve group which makes U-S interest rate policy.\u003cbr/\u003eBy leaving rates unchanged, the federal funds rate - the interest that banks charge each other on overnight loans - still stands at 5-point-5 per cent.\u003cbr/\u003eThe Federal Reserve said that after financial institutions have dealt with the Year 2000 computer date change, it will reexamine whether further rate increases are needed to slow the economy to a more sustainable pace.\u003cbr/\u003eWith projections for continuing strong economic growth ahead, many economists believe the Federal Reserve will boost rates again early next year.\u003cbr/\u003eThe central bank has raised interest rates three times this year - in June, August and November - to slow the economy and keep inflation under control.\u003cbr/\u003eThe three increases totalled three-quarters of a percentage point.\u003cbr/\u003eCommercial banks matched their higher costs of borrowing by increasing their prime rates - the benchmark for millions of consumer and business loans - pushing the prime rate in November to 8-point-5 per cent - the highest in two years.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The Fed choose not to raise interest rates during the year 2000. I think they are flying against the grain here. But I do think the right policy choice would be to leave short-term overnight interest rates where they are today but the economy worked its way through. There will be no attendant inflation. As it showed itself to this point, there is no reason to think of a slow-up next year. Now let the economy and the stock market take care of itself.\"\u003cbr/\u003eSUPER CAPTION: Joseph Baptipaglia, Gruntal and Company, Chief strategist\u003cbr/\u003eBut the Federal Reserve's three rate increases haven't done much so far to slow the economy, which grew by a 5-point-5 per cent annual rate in the third quarter - far above the three per cent many economists believe is the most that can be sustained without sparking inflation.\u003cbr/\u003eEconomists who believe the Federal Reserve will tighten up further fear that the tight labour market - with the unemployment rate at a 30-year low of 4-point-1 per cent - could lead to wage and price inflation.\u003cbr/\u003eEconomists and members of the Federal Reserve are concerned that employers scrambling to hire scarce workers will try to attract them with higher wages and benefits - costs that could boost product prices.\u003cbr/\u003eOn Y-2-K, Federal Reserve chairman Alan Greenspan said he was confident that the banking system is prepared to handle the century date change without any major computer failures.\u003cbr/\u003eThe Federal Reserve has made sure the financial system has plenty of currency reserves to meet unexpected demands for cash from customers worried that their bank may have a computer glitch that would prevent them from getting cash.\u003cbr/\u003eA boost in interest rates this close to the Y-2-K switch-over would have added an element of uncertainty that analysts said the Federal Reserve wanted to avoid.\u003cbr/\u003eWashington DC and New York - 21 December 1999  XFA\u003cbr/\u003eWashington DC\u003cbr/\u003e1. Wide shot Federal Reserve chairman Alan Greenspan walking\u003cbr/\u003e2. Wide shot Federal Reserve building\u003cbr/\u003e3. Close-up Federal Reserve\u003cbr/\u003eNew York\u003cbr/\u003e4. Mid shot trading at New York Stock Exchange\u003cbr/\u003e5. Wide shot NYSE\u003cbr/\u003e6. SOUNDBITE: (English) Joseph Baptipaglia, Gruntal and Company\u003cbr/\u003e7. Close-up board at NYSE\u003cbr/\u003e8. Wide shot NYSE \u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid 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class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eDate\u003c/dt\u003e\n\u003cdd\u003e1999\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eAudiences\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?audience_ids%5B%5D=371079\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\"\u003eFor Teacher Use\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e2 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='concepts-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003eeconomy, business, inflation, monetary policy, economic growth, north america, prices\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' 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