 |
 |
 |
 |
 |
 |
 |
 |
 |
|
Fed in August saw US softness as temporary-minutes Thu Sep 23, 2004 WASHINGTON, Sept 23 (Reuters) - Federal Reserve officials in August thought the period of late summer U.S. economic softness was likely to be "short-lived," easing the decision to raise interest rates, minutes released on Thursday show. "Although the pace of economic growth had moderated in the second quarter, the Committee believed that the softness would prove short-lived and that the economy was poised to resume a stronger rate of expansion going forward," according to the minutes of the Aug. 10 Federal Open Market Committee meeting. The Fed raised its key federal funds rate by a quarter-percentage point at the meeting, with the members noting that, given the rate's low level when judged against inflation, "significant cumulative policy tightening likely would be needed" to meet the Fed's goals of price stability and economic growth.
|
