Federal Reserve Interest Rate Changes: 2001-2008

Labonte, Marc ; Makinen, Gail E.

Library of Congress. Congressional Research Service.

关键词: Finance;    Interest;    Interest rates;    Economic policy;    Federal reserve system;   

RP-ID  :  98-856 E
RP-ID  :  98-856E_2008Oct29

美国|英语

来源: UNT Digital Library

【 摘 要 】

The Federal Open Market Committee (FOMC) decided at its scheduled meeting held on October 29 to lower the target rate for federal funds to 1% from 1½% set at its unscheduled meeting of October 8, 2008. In making its decision to reduce the target, the FOMC stressed the following factors: (1) the pace of economic growth appears to have slowed markedly owing importantly to a softening of consumer spending; (2) business equipment spending and industrial production have weakened; (3) economic slowdowns abroad have dampened the prospects for U.S. exports; (4) intensified strains in financial markets are also likely to further reduce spending; and (5) inflation prospects have improved due to declines in energy and other commodity prices. The next schedule meeting of the FOMC is set for December 11, 2008.