Bloomberg just announced that the Fed Open Market Committee just announced it's intentions to keep rates low for the foreseeable future through 2013 to help spur the US economy.
This is very unusual for the Fed, as they usually keep their Policy intentions under a tight lid.....go figure.
With movements in the market as they have been ever since the downgrade of the US financial rating by Standard and Poors last Friday, this is clearly an attempt by the Fed to bring more stability to the markets.
For the complete article, please click on the link provided below to directly link to Bllombergs article:
As a side note, 10 year Treasuries with this news continues to react with unprecedented Low yields which in turn have spurred record low mortgage interest rates.
Let's all keep this in perspective, and hopefully keep the panic down to a minimum.
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