Fed Reserve Rates Unchanged
..
Do you think Jim Cramer will be disappointed?
Federal Reserve Leaves Rates Unchanged Once Again
Tuesday, August 07, 2007 2:45:50 PM - As expected, the U.S. Federal Reserve once again left its key interest rate unchanged on Tuesday. The central bank also acknowledged an increased risk of an economic slowdown, though it continued to identify inflation as the biggest risk to the economy.--
At its regularly scheduled meeting, the Federal Open Market Committee, the policy-making arm of the U.S. central bank, announced that it has decided to keep its target for the federal funds rate at 5.25%. This marked the ninth consecutive meeting at which the Fed left its benchmark rate unchanged. The central bank's last policy move took place in late June of 2006, when it announced the last in its series of 17 quarter-percentage point rate hikes.---
In the policy statement that accompanied the rate announcement, the Fed noted some of the recent conditions that have weighed on the economy, including the well-publicized troubles in the mortgage market. Still, the Fed did not downgrade its view that inflation remains the predominant concern for the economy. This disappointed many experts, who had hoped for more modest rhetoric about inflation as a precursor to an eventual rate cut....
Do you think Jim Cramer will be disappointed?
Federal Reserve Leaves Rates Unchanged Once Again
Tuesday, August 07, 2007 2:45:50 PM - As expected, the U.S. Federal Reserve once again left its key interest rate unchanged on Tuesday. The central bank also acknowledged an increased risk of an economic slowdown, though it continued to identify inflation as the biggest risk to the economy.--
At its regularly scheduled meeting, the Federal Open Market Committee, the policy-making arm of the U.S. central bank, announced that it has decided to keep its target for the federal funds rate at 5.25%. This marked the ninth consecutive meeting at which the Fed left its benchmark rate unchanged. The central bank's last policy move took place in late June of 2006, when it announced the last in its series of 17 quarter-percentage point rate hikes.---
In the policy statement that accompanied the rate announcement, the Fed noted some of the recent conditions that have weighed on the economy, including the well-publicized troubles in the mortgage market. Still, the Fed did not downgrade its view that inflation remains the predominant concern for the economy. This disappointed many experts, who had hoped for more modest rhetoric about inflation as a precursor to an eventual rate cut....
Comments
Huh!