Fed holds rates at record low to fuel recovery; Fed holds rates at record low

Fed holds rates at record low, pledges to keep them there for `extended period'

Still, Fed Chairman Ben Bernanke and his colleagues gave no signal that they're considering raising rates anytime soon. They noted that consumer spending remains sluggish, the job market weak, wage growth slight and credit tight.
Companies are still wary of hiring, they said.

I would also add that year-over-year (YOY) credit creation, the lifeblood of fractional reserve banking, continue to implode like stellar remnant after the super nova. Home equity loan, while decaying, remains the only series still expanding YOY.

Breakdown of Total Bank Credit Yr/Yr:


Source: http://finance.yahoo.com/news/Fed-to-strike-upbeat-note-on-apf-2095398868.html?x=0&sec=topStories&pos=main&asset=&ccode=