Jan 29
USA: FOMC holds rate policy steady at 0 to 0.25%, prepared to buy treasuries if warranted, USD firms
The Fed elected to keep its target range unchanged at 0 to 0.25%. The Fed anticipates that economic conditions will warrant exceptionally low Fed funds rates for some time. The Fed says that the economy has weakened further since they met in December noting declining industrial production, housing starts, employment and businesses cutting back spending. The Fed said global demand has slowed significantly. The Fed expects gradual economic recovery later this year but notes significant downside
