Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

US recession easing: Fed

Staff Reporter 1 minute read

The Federal Reserve (Fed) left its cash rate at 0-0.25 per cent at its monetary policy meeting yesterday but indicated that the pace of economic contraction was beginning to slow.

“Information received since the Federal Open Market Committee (FOMC) [the Fed’s monetary policy committee] met in March indicates that the economy has continued to contract, though the pace of contraction appears to be somewhat slower,” a FOMC statement read.

The cash rate was likely to remain exceptionally low for some time, the Fed said, but policy actions taken by itself and the government would “contribute to a gradual resumption of sustainable economic growth”.

The statement reflected a much more upbeat assessment of the US economy compared to the last monetary policy meeting where Fed officials announced plans to pump more than US$1 trillion into the economy.

 

Advertisement
Advertisement
US recession easing: Fed
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
mortgage choice 850 Major brokerage appoints new GM of distribution

Mortgage Choice has announced that Citi’s former head of bankin...

ANZ new still ta ANZ extends business loan terms

The major bank has announced that it will extend the maximum loan...

cash money rolls Credit growth stunted by dive in business lending

Credit growth has waned as a result of a sharp drop-off in busine...

FROM THE WEB