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Strategies & Market Trends : News Links and Chart Links
SPXL 220.68+0.5%4:00 PM EST
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To: pallmer who wrote (5259)1/29/2003 2:27:38 PM
From: pallmer  Read Replies (1) of 29601
 
-- Federal Reserve Keeps Rates Steady --

WASHINGTON (Reuters) - Federal Reserve policymakers opted
on Wednesday to keep U.S. interest rates at four-decade lows
while they awaited the economic impact of a possible war with
Iraq and big tax cuts.

The unanimous vote by the U.S. central bank's Federal Open
Market Committee left its trend-setting federal funds rate for
overnight loans between banks at 1.25 percent, the level it
reached after a half-percentage point reduction last November.

FOMC members said risks to the economy remained evenly
balanced between higher prices and a renewed downturn, a stance
adopted in November. The economy sank into a rut in the last
few months of 2002 and recent data have shown the recovery
still struggling to take hold, with weak job growth and
sluggish industrial output.

Fed policymakers said the softness was exacerbated by
business and consumer worry over the prospect of war with Iraq,
a possibility that financial markets felt was heightened by
President Bush's warning to U.S. troops on Tuesday night that
"some crucial hours may lie ahead."



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29-Jan-2003 19:22:33 GMT
Source RTRS - Reuters News
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