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Federal Reserve cautions on US economic growth

Posted By admin On June 24, 2010 @ 7:37 am In Money Watch | Comments Disabled

James Quinn
London Telegraph [1]
June 24, 2010

The US Federal Reserve opted to hold interest rates steady at record lows as it cautioned that Europe’s debt problems could slow American economic growth.

The Federal Open Markets Committee (FOMC) of America’s central bank voted 9-1 in favour of maintaining its federal funds rate at a range of 0pc-0.25pc for the 13th meeting in a row, as it adopted a somewhat cautious stance on future growth.

The central bank, chaired by Ben Bernanke, for the first time gave a formal nod to the problems in Greece and Spain and other eurozone nations struggling with high debt levels.

“Financial conditions have become less supportive of economic growth on balance, largely reflecting developments abroad,” the FOMC statement warned. Until now the rate-setting committee had consistently said that “financial market conditions remain supportive of economic growth.”

Full article here [1]

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URLs in this post:

[1] London Telegraph: http://www.telegraph.co.uk/finance/economics/interestrates/7850444/Federal-Reserve-cautions-on-US-economic-growth.html

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] Federal Reserve General Counsel Scott Alvarez Threatens the U.S. with Economic Terrorism: http://www.prisonplanet.com/federal-reserve-general-counsel-scott-alvarez-threatens-the-u-s-with-economic-terrorism.html

[4] How Is The Central Economic Planning That The Federal Reserve Does Different From The Central Economic Planning That Communist China Does?: http://www.prisonplanet.com/how-is-the-central-economic-planning-that-the-federal-reserve-does-different-from-the-central-economic-planning-that-communist-china-does.html

[5] The Federal Reserve’s Explicit Goal: Devalue The Dollar 33%: http://www.prisonplanet.com/the-federal-reserve%e2%80%99s-explicit-goal-devalue-the-dollar-33.html

[6] Will Quantitative Easing By The Federal Reserve Unleash Economic Hell?: http://www.prisonplanet.com/will-quantitative-easing-by-the-federal-reserve-unleash-economic-hell.html

[7] Is The Federal Reserve Out Of Control? Markets Across The Globe Brace For Impact As The Federal Reserve Powers Up The Printing Presses: http://www.prisonplanet.com/is-the-federal-reserve-out-of-control-markets-across-the-globe-brace-for-impact-as-the-federal-reserve-powers-up-the-printing-presses.html

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