"The Federal Open Market Committee has decided to lower its target for the federal funds rate... The Committee took this action in view of a weakening of the economic outlook and increasing downside risks to growth... incoming information indicates a deepening of the housing contraction as well as some softening in labor markets."
"...it will be necessary to continue to monitor inflation developments carefully."
Appreciable downside risks to growth remain. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act in a timely manner as needed to address those risks.
This link is to the real Fed statement, not a news article.
This action means little or nothing in the scheme of things. This is simply a formal move to acknowledge positive action toward lending the U.S. government money. The Fed would have you believe that this action really matters to the U.S. economy.
Willie is a man of his own mind and a corporate profits man to the end. No discounts for them. Add it to their tab until next week. :) Fred was busy writing one of his white papers. ;)
You're in Easy Mode. If you prefer, you can use XHTML Mode instead. |