Fed Expected To Hold Funds Rate At 1%

By John S. McClenahen Chairman Alan Greenspan and the 11 other voting members of the Federal Open Market Committee, the Federal Reserve panel that sets interest rates, hold a two-day meeting this week. The expected result: The target for federal funds rate will remain at 1%, its level since June 25, 2003. The announcement should come about 2:15 p.m. Washington time on Wednesday, Jan. 28.

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