Fed Leaves Federal Funds Rate At 1.25%

Jan. 13, 2005
By John S. McClenahen At the end of a five-day period during which the Bush Administration fired its Treasury Secretary, identified a new one, canned its White House economic coordinator and picked a new chairperson for the U.S. Securities & Exchange ...
ByJohn S. McClenahen At the end of a five-day period during which the Bush Administration fired its Treasury Secretary, identified a new one, canned its White House economic coordinator and picked a new chairperson for the U.S. Securities & Exchange Commission, the Federal Open Market Committee did nothing. Chairman Alan Greenspan and his colleagues on the Federal Reserve's policy-making board are leaving the influential federal funds rate at 1.25%, a four-decade low. The panel, in unmistakable Greenspanese, says that recent economic indicators "are not inconsistent with the economy working its way through its current soft spot." Officially the FOMC is now in neutral, not noticeably worried about further weakening of the U.S. economy or nor particularly concerned that a sudden growth surge will set off a burst of inflation. The FOMC's next scheduled meeting is a two-day get-together on Jan. 28 and Jan. 29, 2003.

Popular Sponsored Recommendations

How to Build Zero-Cost On-Site Solar and Storage Projects

Nov. 25, 2023
The Inflation Reduction Act offers tax credits, incentives, and financing that enable no-cost projects. In Enel’s eBook, discover the critical role that incentives play in your...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Beware Extreme Software

Sept. 24, 2023
As a manufacturer, you understand the importance of staying ahead of the curve and being proactive in your approach to technology. With the rapid pace of change in the industry...

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!