All Posts Tagged With: "lehman’s bankruptcy"

Fed Holds Rate Steady in Face of Volatile Markets

Citing balanced threats from weak economic growth and inflation, the U.S. Federal Reserve yesterday (Tuesday) voted to hold the benchmark Federal Funds rate at 2.0%, despite a financial market that has been rocked in recent days by the continued fallout of the credit crisis.

“Downside risks to growth and the upside risk to inflation are both of significant concern,” the policymaking Federal Open Market Committee (FOMC) said in its statement yesterday. “The committee will monitor economic and financial developments carefully and will act as needed to promote sustainable economic growth and price stability.”

The FOMC statement openly acknowledged the many downside…

17Sep2008 | Money Morning | Comments Off | Continued

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