The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today. It remains within a target range of 0.000-0.250 percent. In its press release, the FOMC reiterated most of the key points from its December 2008 statement, including: The U.S. employment outlook continues to deteriorate Consumers and businesses continue to cut spending The housing sector is still showing weakness In addition, the FOMC addressed the "extremely tight" credit conditions for U.S. households and business, even as … [Read more...]
Explaining What The Federal Reserve Did In Plain English (January 28, 2009 Edition)
January 29, 2009 by Leave a Comment
How Today’s Federal Reserve Meeting Could Change Home Affordability
January 28, 2009 by Leave a Comment
The Federal Open Market Committee adjourns from its 2-day meeting today. The monetary policy-setting group is expected leave the Fed Funds Rate within its current target range of 0.00-0.250 percent. This is the lowest range for the Fed Funds Rate in history and, frankly, there isn't much room left to go lower. Therefore, markets aren't really concerned about what happens to the benchmark lending rate today. Instead, markets will focus on the Fed's ideas to revive the U.S. economy. In its post-FOMC press … [Read more...]
