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FOMC Leaves Fed Funds Rate Target Range Unchanged

In its press release, the Federal Open Market Committee (FOMC) said that although economic activity is likely to remain weak for a time, the committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability. In these circumstances, the committee will maintain the target range for the federal funds rate at 0 to .25 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. [More]

Headlines

11/04 | St. Louis Fed Introduces FRED® Graph Gadget
10/30 | *Media Advisory* St. Louis Fed To Host Conference on Future of Rural Development
10/29 | St. Louis Fed Analysis: Recession Takes Toll on Region’s Tax Revenues
10/28 | *Media Advisory* It’s More than a Man-cession: The Real Demographics of Recession

Upcoming Events

11/04 | Memphis, TN
Fiscal Policy: What Does It Mean? Why Does It Matter?
11/04 | Bowling Green, KY
Asset Building: The Path to Economic Stability
11/04 | St. Louis, MO
It's More than a Man-cession: The Real Demographics of Recession
11/05 | Memphis, TN
Asset Building: Pathways to Family Economic Stability
11/05 - 11/06 | St. Louis, MO
Zero Bound: Credit Easing and Quantitative Easing

System News

11/03 | Board Approves Fee Schedule for Federal Reserve Bank Priced Services
10/30 | Fed Adopts Policy Statement Supporting Prudent Commercial Real Estate Loan Workouts
10/23 | Bernanke: Financial Regulation and Supervision after the Crisis
10/22 | Fed Issues Proposed Guidance on Incentive Compensation

From the President

"Three Issues for Near-Term Monetary Policy"

President James Bullard

During a speech given Oct. 11 before the National Association for Business Economics, St. Louis Fed President James Bullard reaffirmed the need for a Taylor-type policy rule for the Federal Reserve’s asset purchase program. He also expressed concern that inflation risks in the medium term may be higher than widely believed, with too much emphasis being given to the idea that the recession implies that the output gap is currently quite large.

Read the press release

View the presentation

Bio | President's Web Site