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