Daily Wrap Up August 12 Finance
Fed keeps rate unchanged
The Federal Reserve on Wednesday kept its key interest rate near zero as expected and said it would end its purchase of $300 million in Treasury securities in October, one month later than previously announced. The Fed is expected to maintain the current rate of between 0 and 0.25 percent.
JetBlue offers unlimited monthly fly pass for $599
JetBlue Airways Corp. in a bid to fill up empty planes has launched a $599 fly pass promotion allowing passengers unlimited airplane rides for a month valid between September 8 and October 8.
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Home prices slump a record 15.6 percent
The National Association of Realtors said on Wednesday that home prices continue to drop in more than 80 percent of urban areas in a recent survey reported lower home prices than a year ago. The median price of an existing single-family home dropped to $174,100 or 15.6 percent, the most in records dating to 1979, the Association said.
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