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Technology Stocks : Ascend Communications (ASND)

ASND 211.39

-2.7%

2:40 PM EST

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To: Jan Crawley who wrote (33288)	2/4/1998 2:17:00 PM
From: Gary Korn	Read Replies (1) of 61433

FOMC leaves rates unchanged WASHINGTON, Feb. 4 (UPI) _ The Federal Reserve left interest rates unchanged following the bimonthly meeting of its policy-making body. The board's Federal Open Market Committee kept the federal funds target rate at 5.25 percent and its discount rate at 5 percent. Most economists expected the announcement. As usual when it lets rates stand, the FOMC announced its decision by saying ''there is no further announcement.'' The Fed last lowered interest rates in January 1996 when it seemed the U.S. economy badly needed a boost to avoid slipping into recession. The Fed controls monetary policy by changing interest rates and the amount of money in circulation. The Fed, in theory and by law, is supposed to keep the economy at full employment while maintaining price stability.

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