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

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The Fed Leaves the Target Rate at 2%

Posted on August 05, 2008

There was one dissent. Here's the statement indicating that Although downside risks to growth remain, the upside risks to inflation are also of significant concern to the Committee :Press Release Release Date: August 5, 2008 For immediate release The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. Economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports. However, labor markets have softened further and financial markets remain under considerable stress. Tight credit conditions, the ongoi...

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bernanke , commodities , fed , fomc , housing , inflation , the fed