Federal Reserve keeps rates steady

Sep. 21, 2006. 01:00 AM

U.S. interest rate futures dealers continue to favour rate cuts from the Federal Reserve Board to start in early 2007, although the outcome of yesterday’s policy-setting meeting was not as dovish as some had hoped.

The Federal Open Market Committee left rates unchanged at 5.25 per cent and made only minor revisions to its habitual post-meeting statement. Going into the meeting, some dealers were hoping the Fed would comment more decisively on slowing inflation and moderating economic growth to set the stage for a rate cut within the next few months. “The Fed stood true to the words of Fed officials who have spoken recently and made it clear that their bias is still, if anything, toward tightening,” said Alan Ruskin, chief international strategist at RBS Greenwich Capital in Greenwich, Conn.

About mmegowan

I am a realtor with Remax Estate Properties in Palos Verdes Estates. Visit my website at http://www.maureenmegowan.com
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s