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To: StocksDATsoar who wrote (59862)	8/22/2000 2:25:04 PM
From: SSP	Respond to of 150070

Federal Reserve Leaves Rates Alone WASHINGTON, Aug 22, 2000 (AP Online via COMTEX) -- The Federal Reserve, amid signs the supercharged economy is finally beginning to slow, decided Tuesday to leave a key interest rate unchanged. The central bank's decision came after a closed-door meeting of the Federal Open Market Committee, the officials, including Fed Chairman Alan Greenspan, who set interest rate policy. As a result, a key interest rate controlled by the Fed called the federal funds rates will stay at 6.5 percent, the highest level in nine years. The funds rate is the interest that banks charge each other on overnight loans. The Fed had passed up the chance to raise rates at its last meeting on June 27-28 and before the announcement Tuesday, economists said there were more reasons for the central bank to leave rates unchanged as evidence of a slowdown grows. In a statement, explaining its decision, the Fed said recent economic data have indicated that the "expansion of aggregate demand is moderating toward a pace closer to the rate of growth of the economy's potential to produce." But, in the part of the statement that reflects possible future moves, the central bank left the door open to further rate increases. The Fed said it believes "the risks continue to be weighted mainly toward conditions that may generate heightened inflation pressures in the foreseeable future." By JEANNINE AVERSA Associated Press Writer