Rate Cut Possible in Coming Months
January 4, 2007
Minutes of the Federal Reserve Board’s most recent meeting in December, which were released yesterday, suggest that policymakers’ concern over the housing slump kept them from raising the key short-term interest rate. One Fed member, who wasn’t identified in the minutes, wanted the public statement to include a suggestion of a potential rate cut, but his wording didn’t make the final version. The Fed is expected to let the benchmark rate stand at 5.25 percent at its next meeting at the end of this month, but many analysts predict a rate cut in the coming months.
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