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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: yard_man who wrote (6354)	1/28/2004 2:25:15 PM
From: Louis V. Lambrecht	Read Replies (2) of 110194

Fed changed the bias to "lifting" interest rates. reuters.com Fed keeps rates steady, says can be patient Wed January 28, 2004 02:17 PM ET WASHINGTON, Jan 28 (Reuters) - The U.S. Federal Reserve opted on Wednesday to hold interest rates at 1958 lows to keep the economic recovery rolling but changed its wording on the future of rates slightly to say it can "be patient" before lifting borrowing costs. The unanimous decision by the rate-setting Federal Open Market Committee keeps the trendsetting federal funds rate for overnight loans between banks at 1 percent. In a statement at the close of a two-day meeting, the U.S. central bank said chances of a drop in prices stood about equal to an inflation pickup -- a position adopted at the last FOMC meeting on Dec. 9. Policymakers said growth was strengthening and made a slight alteration to a a pledge made last August to keep rates at levels designed to stimulate borrowing and spending for a "considerable period."

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