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Previously, the minutes were released only after the next meeting had already finished, rendering them only of historical interest; this was changed to be released three weeks after the date of a policy decision. The minutes thus became available for predicting the FOMC's action in the next meeting. Official statement: November 10, 2004 2.00% 3.00%
The U.S. Federal Reserve is keeping its existing, accommodative monetary policy unchanged, but in its Federal Open Market Committee policy statement issued today it added that it's prepared to ...
When Chairman Ben Bernanke and the Federal Reserve's rate-setting Federal Open Market Committee (FOMC) meet Tuesday, they'll face some daunting challenges. The economy is unquestionably weaker ...
U.S. Federal Reserve Wednesday launched the second phase of its quantitative easing program , the so-called QE2, saying it will buy up to $600 billion more in long-term U.S. Treasury bonds to help ...
Here's the key point in the minutes of the Fed's policy-setting Federal Open Market Committee meeting on Nov. 2-3: The central bank now expects a weaker recovery, with as many as six years needed ...
In August 2007, Committee announced that "downside risks to growth have increased appreciably," a signal that interest rate cuts might be forthcoming. [4] Between 18 September 2007 and 30 April 2008, the target for the Federal funds rate was lowered from 5.25% to 2% and the discount rate was lowered from 5.75% to 2.25%, through six separate actions.
Under the terms of the original Federal Reserve Act, each of the Federal Reserve banks were authorized to buy and sell in the open market bonds and short term obligations of the United States Government, bank acceptances, cable transfers, and bills of exchange. Hence, the reserve banks were at times bidding against each other in the open market.
Gold prices jumped in early Tuesday trading in advance of a Federal Reserve meeting and U.S. elections before leveling off and finishing the day slightly higher than Monday's levels. Sponsored ...