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Politics : Formerly About Applied Materials

AMAT 261.90

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Dec 26 9:30 AM EST

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To: StanX Long who wrote (62139)	3/15/2002 12:38:06 AM
From: StanX Long	Read Replies (1) of 70976

Fed Meeting May Lay Groundwork for Shift to Interest-Rate Increases Friday March 15, 12:11 am Eastern Time biz.yahoo.com WASHINGTON -- With the economic recovery well under way, Federal Reserve policy makers are grappling with how soon to start reversing last year's dramatic interest-rate cuts, Friday's Wall Street Journal reported. ADVERTISEMENT When policy makers meet Tuesday, they are likely to keep interest rates at their current 40-year lows. But the meeting could be the first turning point for monetary policy in more than a year if policy makers lay the verbal groundwork for the eventual shift to rate increases. They would most likely do that by declaring that risks to the economy are balanced between economic weakness and inflation. For the past year, they have been saying risks are tilted toward weakness. Such "balance of risks" statements don't commit the Fed to a particular interest-rate action. Nonetheless, next week may be too soon for some officials to signal a change in policy. "We want to be confident that the recovery is sustainable," Federal Reserve Bank of Philadelphia President Anthony Santomero said last week. That will likely happen "over the next quarter or so," he said. And when recovery has taken hold, " monetary policy must then shift gears."

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