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Strategies & Market Trends : Love shack
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To: D. Miller who wrote (210)12/19/2000 2:34:20 PM
From: Grandk  Read Replies (1) of 322
 
Somehow the markets are green. The statement in bold leads me to believe that a recession is likely, and a depression is possible. Once again, denial at it's finest.

WASHINGTON (Reuters) - The U.S. Federal Reserve kept interest rates steady on Tuesday but warned the economy was slowing so fast that there was a risk of a sharp downturn, a signal the central bank was preparing to cut rates soon.
The statement issued by the Federal Open Market Committee at the conclusion of its eighth and final session this year represented a sharp shift from its 11-month-old position that inflation was the greatest risk the record U.S. expansion faced.

The Fed kept its federal funds overnight bank lending rate at 6.5 percent for now, where it has been since a half-percentage point increase in May. The more symbolic discount rate on Fed loans to banks remains at 6.0 percent.
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