Feb 19
FOMC Minutes January 27-28, 2009
Downside risks to growth intensified FOMC discussed additional measures to boost recovery We expect interest rates to remain unchanged FOMC viewed credit conditions as extremely tight, āwith financial markets fragile and some parts of the banking sector under substantial stress.ā Yet, FOMC highlighted signs of recovery in markets receiving relief from the different liquidity facilities. Staff revised downwards its forecast for 1H09, as weaker-thanexpected economic releases more than
