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At August meeting, many Fed members saw rate decision as a close call
AFX


WASHINGTON (AFX) - Federal Reserve Board Chairman Ben Bernanke and his colleagues on the Federal Open Market Committee thought the decision to keep interest rates unchanged was a close call at their most recent meeting, but decided that it would be better to have more information about the economy before deciding whether or not to continue making money more expensive.

'In view of the elevated readings on costs and prices, many members thought that the decision to keep policy unchanged at this meeting was a close call and noted that additional firming could well be needed,' the Fed said, according to minutes of the August 8 meeting, released today.

Still, members of the FOMC said keeping the federal funds rate unchanged would allow the committee to gather more information about the economy before deciding on their next move.

'But with economic growth having moderated some, most members anticipated that inflation pressures quite possibly would ease gradually over coming quarters and the current stance of policy could well prove to be consistent with satisfactory economic performance,' the minutes said.

After 17 consecutive rate hikes, the FOMC members decided to keep the key federal funds rate at 5.25 pct at the August meeting, with just one member calling for an additional rate hike. Their next meeting is Oct 24-25.

newsdesk@afxnews.com

The dollar obviously didn't like that assessment!

Thanks for the posts Choccie.

The market was expecting a tougher inflationary stance from the minutes, and all they got was a regurgitation of what has already been 'said'.

Well that was all pretty unspectacular - but September approaches.

Bonjour

Bonjour Hil, ca va?

Le bon apr-midi mon Petit F. Je suis tr bien merci mais tout fait fatigu

Et la carte de Vodafone UMTS, cela fonctionne bien?

Non. The SFR prepaid SIM was incompatible with the datacard despite it saying on the box that it was 2G and 3G compatible. Having wasted an age (and a total of around 80) running around trying to find somewhere that sold the damn thing and then trying to make it work, I eventually opted for the local cyber cafe at 5/hour. I think that it cost 2 to transfer some money, check the footy and cricket scores and find out who'd died (there's always somebody who dies when I'm away - last time it was my mum's cat).

Is Maclaurin the Vodafone chairman? He's on my hit list for a snotty email tomorrow!!!

Hil, quelle dommage! The name's Bond, Sir John Bond. I expect his mobile number starts 07 . . .

He took over from Lord MacLaurin this year.

Can you get my boots warm please MM? Just booked a week in Meribel at Crimbo.

:o)

only a week?

hils, good to see you back, hope yo had a bon vacation

Merci goforit,

By the way, I see the 1.8830 region as initial support. It looks to have bounced from there on 25/8. Biding time for now to see what it's going to do next.

h, also a pivot point in that area, hoping to close in that area

anybody having problems with fxcm 5/10 min charts?

Ha. I've beaten Le Petit F to posting Le Calendar this week.

Hilary, Welcome back and thanks for Le Calendar

Merci quand meme a tous les deux, 'ils et Dezza :)

Eso ha obtenido mconfund

Some of you may recall "Let's Parler Franglais!", a column by Miles Kington in the old Punch magazine. It gave us such gems as "une autre kettle du poisson" and "pas de proble, Squire". I feel a revival coming on, pour s.

Le Petit F (MM)