Not dropping fast enough.
Mixed views.
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DJ Text Of Federal Reserve's Interest Rate Decision
WASHINGTON (Dow Jones)--The following is the text of the Federal Reserve's decision on interest rates released Tuesday, March 18:
The Federal Open Market Committee decided today to lower its target for the federal funds rate 75 basis points to 2-1/4 percent.
Recent information indicates that the outlook for economic activity has weakened further. Financial markets remain under considerable stress, and the tightening of the credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters.
Inflation has elevated, and some indicators of inflation expectations have risen. The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of energy and other commodity prices and an easing of pressures on resource utilization. Still, uncertainty about the inflation outlook has increased. It will be necessary to continue to monitor inflation developments carefully.
Today's policy action, combined with those taken earlier, including measures to foster market liquidity, should help to promote moderate growth over time and to mitigate the risks to economic activity. However, downside risks to growth remain. The Committee will act in a timely manner as needed to promote sustainable economic growth and price stability.
(END) Dow Jones Newswires
March 18, 2008 14:14 ET (18:14 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.- - 02 14 PM EDT 03-18-08
**Brought to you by Scottrader, a product of Scottrade Inc**DJ Text Of Federal Reserve's Interest Rate Decision
WASHINGTON (Dow Jones)--The following is the text of the Federal Reserve's decision on interest rates released Tuesday, March 18:
The Federal Open Market Committee decided today to lower its target for the federal funds rate 75 basis points to 2-1/4 percent.
Recent information indicates that the outlook for economic activity has weakened further. Financial markets remain under considerable stress, and the tightening of the credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters.
Inflation has elevated, and some indicators of inflation expectations have risen. The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of energy and other commodity prices and an easing of pressures on resource utilization. Still, uncertainty about the inflation outlook has increased. It will be necessary to continue to monitor inflation developments carefully.
Today's policy action, combined with those taken earlier, including measures to foster market liquidity, should help to promote moderate growth over time and to mitigate the risks to economic activity. However, downside risks to growth remain. The Committee will act in a timely manner as needed to promote sustainable economic growth and price stability.
(END) Dow Jones Newswires
March 18, 2008 14:14 ET (18:14 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.- - 02 14 PM EDT 03-18-08 |
