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.