FederalOpenMarketCommittee.pptVIP

Federal Open Market Committee Fed: Economic Activity Has ‘Picked Up /2009/09/23/news/economy/fed_decision/index.htm?postversion=2009092318 2009\09\23 蔡秋莲 07商务英语A班 20070311255 NEWS NEW YORK (CNNM) -- The Federal Reserve kept interest rates near zero on Wednesday and said the economy is improving. But the Fed also pointed out ongoing job losses could dampen a recovery. NEWS At the conclusion of its two-day meeting Wednesday, the Federal Open Market Committee said that the governments stimulus and economic rescue actions have helped to stabilize the financial markets, which will help generate economic growth in the future. NEWS Meanwhile, the Fed said consumer spending is stabilizing, but that rampant job loss and tight credit has restrained overall household consumption. The Fed added that although the housing sector has begun to make a comeback, home sales and new home construction are coming off of historic lows. NEWS As a result, the Fed kept its federal funds rate, an overnight lending rate that guides rates on various consumer and business loans, in a range of 0% to 0.25%. Rates have been at that level since December. Stocks initially rose following the Feds announcement but headed lower by the end of the day. Bonds were also mixed. The dollar pulled back, nearing a one-year low. NEWS Nonetheless, the Fed said it would extend one of its rescue programs, the $1.45 trillion of mortgage-backed securities and debt purchases from Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500), into the first quarter of 2010. But the Fed didnt renew the program as some economists had expected. NEWS In addition, many economic forecasts have unemployment reaching its peak at the end of first quarter, and Fed programs will likely be needed to help support the economy through that period of job loss. NEWS Still, the central bank continues to ov