Wednesday, September 20, 2006
Fed Steady 10-1
The Fed said policy-makers voted 10-1 to extend the interest-rate pause. Richmond Federal Reserve Bank President Jeffrey Lacker dissented, arguing higher borrowing costs were needed, as he did at the August 8 FOMC meeting.
A Reuters poll of 69 economists released on Monday found a median prediction of a one in four chance of the U.S. economy slipping into recession next year. That heightened risk is expected to lead the Fed to cut rates by half-a-point by the end of next year.
Help Getting out of Debt
Links to this post: