Fed leaves interest rates unchanged
WASHINGTON - The Federal Reserve left a key interest rate unchanged Tuesday, allowing Americans to continue to take advantage of some of the lowest borrowing costs in four decades.
That would give consumers an incentive to keep on spending, and businesses might be motivated to step up investment in new equipment and plants. Both are crucial ingredients to help along the budding economic recovery.
Federal Reserve Chairman Alan Greenspan and his colleagues held the federal funds rate - the interest that banks charge each other on overnight loans - at 1.75 percent, the lowest level in 40 years. It marked the third consecutive Fed meeting this year that policy-makers decided to hold rates steady.
Magazine compiles list of oldest companies
Family Business magazine recently compiled a list of the "World's Oldest Family Companies." The top 10 were:
The oldest family-owned company operating in America is Zildjian Cymbal Co. of Norwell, Mass., which was founded in Turkey in 1623.
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