It will take until next spring for the US economy to "find its footing", according to one financial expert.

Mark Zandi, chief economist at Moody's Economy.com, has claimed that March 2009 should be the next time the Federal Reserve moves interest rates up.

His comments, reported by the Associated Press, come after the Fed indicated that the next time its Federal Open Market Committee (FOMC) changes the interest rate, it will increase.

If Mr Zandi's predictions are true, Americans will still have a number of months to ride out what has become a tough economic climate of rising food fees, high gas prices and general consumer unrest.

Those who are struggling financially may find they receive a boost from taking out pay day loans.

Yesterday, the FOMC announced that interest rates would remain at two percent for the time being, following one of its eight scheduled meetings of the year.

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