S&P Credit Research



Title:

Intraday Economic News: FOMC Lowers Target Rate 25 Bps

Price:$500.00
Publication Date:Apr 30, 2008
Report Type:Commentary
Abstract:The FOMC decided to lower its target rate by a 25-basis-point easing at the April 30 policy meeting. The policy statement led off by saying that the economy remains weak, with household and business spending subdued, and labor markets have softened further. The statement also noted "considerable stress" in the financial markets. "Readings on core inflation have improved somewhat", it said, but "inflation expectations have risen in recent months." Moreover, the Fed included the word "substantial" as it noted that "the substantial easing of monetary policy to date" should, with other measures, help promote moderate growth and mitigate downside risks. The statement didn't say specifically that "downside risks" to growth remain. Overall, the statement's heightened concern over inflation and the
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Sector:Structured Finance, Public Finance, Global Issuers, Servicer Evaluations, Asset-Backed Securities, Collateralized Debt Obligations, Real Estate Companies, Asset-Backed Commercial Paper, Commercial MBS, Residential MBS, Financial Institutions, Insurance, Sovereigns, Corporations, International Public Finance, Utilities
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S&P Credit Research

S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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