Forex News Preview: Fed Meeting rate decision 2:15 PM EDT

Written June 25, 2008 at 12:04 PM EST by  

The Federal Open Market Committee (FOMC) will give it’s rate decision today at 2:15 PM EDT.  Consensus is that the FED will stall it’s rate raising, or lowering for the time being.  Following extremely poor New Home Sales data this morning down -2.5% from +3.3 % previously the FED may have to face the fact that declining housing prices and sales, and high oil prices will have a deeper  and longer lasting effect on the US economy than previously expected.  The fed funds rate is currently at 2% which was overall lower by 3.25 % since it started easing last year.

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