20 March 2002, 13:23 Fed Leaves Rates Unchanged; Shifts To Neutral Bias
The Federal Open Market Committee announced Tuesday it decided "to keep its
target for the federal funds rate unchanged at 1-3/4 percent." The
satement said "The information that has become available since the last
meeting of the Committee indicates that the economy, bolstered by a
marked swing in inventory investment, is expanding at a significant
pace. Nonetheless, the degree of the strengthening in final demand over
coming quarters, an essential element in sustained economic expansion,
is still uncertain." The Fed said the risks are now "balanced" and
announced that it will include the roll call of votes with its meeting
announcements. All members voted for the rate decision and the shift to
a neutral stance. //MarketNews
© 1999-2024 Forex EuroClub
All rights reserved