Fed: Rate Unchanged, Economy Stabilizing But Still Weak, Inflation To Remain Low
The Fed Reserve's Open Market Committee policy statement was released moments ago and, as expected, the Fed's key banking lending rate unchanged in the 0 to .25 percent range.
The committee said that the economy is showing signs of "leveling out" since June and that conditions are "improving" in the financial markets.
Household spending has stabilized, but remains constrained by high unemployment, continued drops in housing prices and "sluggish income growth."
Inflation remains "subdued" for some time, the Fed said, and prices should remain stable.
The Fed said it plans to keep its key lending rate unchanged for "an extended period."
You can read the Fed's entire statement by clicking here.
The market has been rallying all day in anticipation of this statement.
Since the release of the statement, the markets have moved upward slightly.
-- Frank Ahrens
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By
Frank Ahrens
|
August 12, 2009; 2:18 PM ET
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The Ticker
| Tags: FOMC, Federal Reserve
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Posted by: Dermitt | August 12, 2009 3:18 PM | Report abuse
Now they are working on educating the Swiss on banking. Turn Swiss banks into a Marxist Wall Street mess and talk the dollar up. Maybe they can send Madoff over with his SEC pals and show them how it's done. We can put the Joker on $3 bills next. Buy lots of diamonds. Keep them covert. Hide them in your bra. The creeps will be passing more boob laws to prevent that next.
Posted by: Dermitt | August 12, 2009 3:42 PM | Report abuse
P.S. WPO Rocks. That can't change.
Posted by: Dermitt | August 12, 2009 3:45 PM | Report abuse
Change 11.51. Not a bad day. Bad morning, not all bad. What next? Up up and away.
Posted by: Dermitt | August 12, 2009 4:43 PM | Report abuse
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What signs? Sounds pump and dumpy. The want to float more bad fed debt or sell more debt. They'll say anything. Post is up. I really thought it would pass 500 before this. The dollar keeps dropping. Gold is rising as the dollar falls. Gold and WPO are heading higher, so that's good news. You could say that WPO is as good as gold. Where do I sign?