Fed votes to keep short-term rates unchanged

As expected the Fed announced that they’d keep the Fed Funds Rate unchanged @ 2.00%.  Here is a link to the NY Times article: http://www.nytimes.com/2008/08/06/business/economy/06fed.html?_r=1&oref=slogin

Fed Funds Rate

In their post-policy announcement statement they seemed to back away from concerns about inflation.  Their comments may help ease inflationary concerns in the financial markets which would help mortgage rates.

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