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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: gongoman who wrote (91429)	5/24/2005 3:49:55 PM
From: bcrafty	Respond to of 100058

gongo, essentially there was nothing new 2:00pm 05/24/05 Signs of soft-patch did not trouble FOMC: May 3 minutes By Greg Robb WASHINGTON (MarketWatch) -- Fed officials were not troubled by indicators released in April that suggested the economy was slowing, according to the minutes of the May 3 meeting released on Tuesday. Most members viewed the weaker data as "transitory." Only a few FOMC members thought that the Fed's seven straight rate hikes since June 2004 might be impacting growth unexpectedly. The minutes suggest that inflation remained the paramount concern for the central bankers. Many FOMC members viewed the risks to the inflation outlook as "skewed somewhat to the upside." Once again, some Fed officials objected to the language in the post-meeting statement that rates could be increased at a "measured" pace. They argued that such forward-looking language would limit the Fed's flexibility. But the majority rejected this view, insisting that "measured" did not preclude either a pause in the steady pace of rate hikes or an increase the size of the rate hikes to a half a percentage point.