FOMC: Nothing Done

Wednesday, May 09, 2007 | 06:30 PM

The Federal Open Market Committee unanimously agreed to keep the federal funds rate at 5.25% -- that's exactly where its been since the June 2006 FOMC.

The Fed statement said the economy "slowed" versus prior statements in the first part of the year. Previously,the Fed described the economy as "mixed."

The Fed repeated that the housing adjustment is "ongoing;" the likeliest scenario remains "moderate" growth; core inflation remains "somewhat elevated" but should come down. Also of note:  High resource utilization remains an inflation threat.


The Board of Governors of the Federal Reserve System has issued the following press release: FOMC statement


WSJ's Parsing the FOMC Statement
click for larger graphic


Wednesday, May 09, 2007 | 06:30 PM | Permalink | Comments (42) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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Did you put up the graphic twice in homage to the repeated phrase in the statement? "Voting for the FOMC monetary policy action were:Voting for the FOMC monetary policy action were:" (from The Mess That Greenspan Made")

Posted by: Nikki | May 9, 2007 7:18:04 PM

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