All Eyes on the Fed
Today, the markets will look to the conclusion of the Federal Reserve's two day meeting to see whether there's a decision to cut interest rates again. As The Post's Neil Irwin points out, the Fed is widely expected to cut rates for the 10th time in a year, down to .5 percent or even lower. Cutting rates, however, has not had the impact it usually does of trickling down to lenders and consumers in the form of lower interest for borrowing money.
But before that news, which is announced at 2:15 p.m., some other economic news will be come out this morning. At 8:30, the government will release the latest figures on consumer price index and also data that will provide a peek into the housing and construction markets. Data on housing starts and building permits is not expected to show much strength these days, as homebuilders cut back on building new homes.
Also today, talks continue between the automakers and the Bush administration over a relief package, after the Senate last week killed any new legislative effort. A Post poll published today shows a majority of Americans oppose a government bailout for the automakers, and 75 percent of them believe the companies' problems are due to bad management, not the economy.
Check back here for updates later this morning.
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