From Realtor Magazine Online, Daily Real Estate News August 27, 2008
Federal Reserve policymakers decided to hold a key interest rate steady at 2 percent for their August meeting, according to documents that also suggest the next action will be to raise rates.
Released on Aug. 26, the documents reveal that "members generally anticipated that the next policy move would likely be a tightening" and indicate that economic growth and inflation would determine the timetable for any hikes.
The Fed is unlikely to raise rates to reign in inflation until next year, according to most economists. Fed Chairman Ben Bernanke has suggested that the central bank will hold rates at 2 percent for the September meeting and for the rest of this year.
Source: Washington Post, Jeannine Aversa (08/27/08)
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