Wednesday, January 31, 2007

Feds leave fed funds rate alone

As today concludes a two day meeting of the Federal Reserve Board, the key fed funds rate has been left unchanged at 5.25%. It was a widely held opinion that the key rate would hold steady.

In the press release, the Federal Open Market Committee references the housing market:
"Recent indicators have suggested somewhat firmer economic growth, and some tentative signs of stabilization have appeared in the housing market. Overall, the economy seems likely to expand at a moderate pace over coming quarters."

To read more: Federal Reserve Board January 31, 2007 press release

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