Archive for August, 2008
Meeting Minutes Say FOMC’s Stance Remains Neutral
The minutes of the Federal Open Market Committee’s
(FOMC) Aug. 4-5 meeting show that board members “did not see the current
stance of policy as particularly accommodative.” It also revealed that
most members anticipate the next policy move to be a tightening of rates,
but the timing and extent of any change would depend on evolving
developments.
Lower Gas Prices Drove Rebound in U.S. Consumer Confidence Survey
Consumer confidence continued to rise in August, which economists
largely attribute to a drop in gas prices over the past
several months. However, despite the improvement in recent months, they
say the index remains at depressed levels.