by Mark Thoma, University of Oregon (Department of Economics)

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FOMC Keeps Target Rate at 2%

Posted on June 25, 2008

As expected, the FOMC left the target federal funds rate unchanged:Press Release, Release Date: June 25, 2008 The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.Recent information indicates that overall economic activity continues to expand, partly reflecting some firming in household spending. However, labor markets have softened further and financial markets remain under considerable stress. Tight credit conditions, the ongoing housing contraction, and the rise in energy prices are likely to weigh on economic growth over the next fe...

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