FOMC STATEMENT, BOARD APPROVAL OF DISCOUNT RATE REQUESTS OF THE FEDERAL RESERVE BANKS OF NEW YORK, CLEVELAND, RICHMOND, ATLANTA, MINNEAPOLIS, SAN FRANCISCO
December 16, 2008
December 16, 2008
WASHINGTON, Dec. 16 -- The Federal Reserve Bank issued the following news release:
The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.
Since the Committee's last meeting, labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment, and industrial production have declined. Financial markets remain quite strained and credit conditions tigh . . .
The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.
Since the Committee's last meeting, labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment, and industrial production have declined. Financial markets remain quite strained and credit conditions tigh . . .