Bernanke Follows Greenspan: Rate Rises 25 Basis Points

March 28, 2006
What's the difference between new Fed chairman Ben S. Bernanke and former chairman Alan Greenspan? Not much, initially, when it comes to rate setting. As expected the Federal Open Market Committee (FOMC), the Federal Reserve's monetary policy panel, ...

What's the difference between new Fed chairman Ben S. Bernanke and former chairman Alan Greenspan? Not much, initially, when it comes to rate setting.

As expected the Federal Open Market Committee (FOMC), the Federal Reserve's monetary policy panel, today raised the influential federal funds target rate to 4.75% at the end of a two-day meeting. It was the fifteenth quarter-point increase in the target rate since June 2004.

Another quarter-point increase at the FOMC's next scheduled meeting in May seems likely. "The Committee judges that some further policy firming may be needed to keep the risks to the attainment of both sustainable economic growth and price stability relatively in balance," the FOMC said.

Popular Sponsored Recommendations

State of Sales Report

Sept. 12, 2023
Discover the latest insights driving productivity and efficiency for more than 7,700 sales leaders and professionals.

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...

Moving Sustainability Forward in Manufacturing

Aug. 9, 2023
This paper presents results of a survey of industrial end users. Respondents provided feedback on a range of topics including their company’s sustainability priorities, current...

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...

Voice your opinion!

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