Thursday, November 01, 2007

The Fed cut

You can read the text of the statement accompaning the 25bps rate cut in the Fed funds rate here. Note how the bank hinted they will not be cutting rates at the next meeting.

"The Committee judges that, after this action, the upside risks to inflation roughly balance the downside risks to growth. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth."

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