Wednesday, October 25, 2006

No Surprise From The Fed

As expected, there was little surprise from the FOMC in their announcement today.

The Fed held rates at 5.25%. Other comments included:
  • Fed says inflation pressures likely to moderate over time
  • Says economy likely to expand at moderate pace
  • Says core inflation has been elevated
  • Says economy reflects 'cooling' housing market

The 10-year yield is down a bit more to 4.80%. Stocks bounced in their initial reaciton.

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