RobertB
January 2nd, 2008, 03:07 PM
Fed Concerned About Economic Uncertainty
Wednesday January 2, 2:27 pm ET
By Jeannine Aversa, AP Economics Writer
Worries About Housing, Credit and Financial Problems Drove Fed to Cut Rates in December
WASHINGTON (AP) -- Worsening problems in the housing, credit and financial markets drove the Federal Reserve to do an about-face in December and slice its key interest rate yet again with the hope it would help bolster an economy that was losing speed, according to meeting minutes made public Wednesday.
All those problems also greatly increased uncertainty about the economy's outlook, prompting Fed policymakers to keep all their options open about their next move, the minutes of the closed door meeting on Dec. 11 revealed.
http://biz.yahoo.com/ap/080102/fed_minutes.html?.v=7
Wednesday January 2, 2:27 pm ET
By Jeannine Aversa, AP Economics Writer
Worries About Housing, Credit and Financial Problems Drove Fed to Cut Rates in December
WASHINGTON (AP) -- Worsening problems in the housing, credit and financial markets drove the Federal Reserve to do an about-face in December and slice its key interest rate yet again with the hope it would help bolster an economy that was losing speed, according to meeting minutes made public Wednesday.
All those problems also greatly increased uncertainty about the economy's outlook, prompting Fed policymakers to keep all their options open about their next move, the minutes of the closed door meeting on Dec. 11 revealed.
http://biz.yahoo.com/ap/080102/fed_minutes.html?.v=7