Fed Finished? Check Greenspan On June 9

June 7, 2005
Federal Reserve Board Chairman Alan Greenspan isn't the only person with a vested interest in U.S. interest rates. Manufacturing executives also have a vital stake in the cost of borrowing, and they, suggests Merrill Lynch & Co., might get some clarity ...

Federal Reserve Board Chairman Alan Greenspan isn't the only person with a vested interest in U.S. interest rates. Manufacturing executives also have a vital stake in the cost of borrowing, and they, suggests Merrill Lynch & Co., might get some clarity on where rates are headed when Greenspan testifies before Congress' Joint Economic Committee on June 9.

Merrill is interpreting "dovish" remarks delivered June 1 by Dallas Federal Reserve Bank President Richard W. Fisher as a suggestion that the Federal Open Market Committee (FOMC), of which Fisher is a voting member, could stop tightening the U.S. money supply as early as the end of this month -- and no later than its August 9 session.

The target for the benchmark federal funds rate is now 3%. Expectations are that the target will be raised by another 25 basis points, to 3.25%, at the FOMC's June 29-30 meeting.

Popular Sponsored Recommendations

Ecommerce Guide: How to Manage Order Volume Spikes

Oct. 2, 2023
Master the art of delivering a seamless ecommerce shopping experience! Learn how to streamline your operations to successfully manage seasonal sales order spikes.

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

How Digital Twin Technology is Empowering Manufacturers

Sept. 27, 2023
This FAQ delves into why this technology offers business value and considerations toward implementation.

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

Voice your opinion!

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