Re: Nnuut's Account Talk
The Market Giveth, the FOMC Taketh away, I guess?
What's up with this? NASTYYYYYY!!!!!!!!!!!!:notrust:
Fed saw risks to growth in December
Several members believes that economic data was looking 'subdued' last month.
January 3 2007: 2:21 PM EST
WASHINGTON (Reuters) -- Federal Reserve officials agreed at their December meeting that inflation was the predominant concern but some felt the "subdued tone" of economic data meant risks to growth had increased, minutes released Wednesday show.
"Several members judged that the subdued tone of the incoming indicators meant that the downside risks to economic growth in the near term had increased a little and become a bit more broadly based than previously thought," said the minutes of the Dec 12 meeting.
"Nonetheless, all members agreed that the risk that inflation would fail to moderate as desired remained the predominant concern," the minutes added.
The central bank at that meeting held benchmark interest rates steady at 5.25 percent, renewing a warning on inflation but also nodding to "mixed" economic signals and a "substantial" housing slowdown.
The minutes show one member of the policy-setting committee was concerned enough about growth that that person favored a statement saying monetary policy could be adjusted in either direction.
The statement the Fed issued last month said only that additional firming - increases in interest rates - might be necessary to address risks from inflation.
http://money.cnn.com/2007/01/03/news/economy/fed_minutes.reut/index.htm?postversion=2007010314