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 March 26, 2007

Federal Reserve Meets, Leaves Rates Unchanged
The Federal Reserve Board met on March 22 and left rates unchanged at 5.25%. The rate had remained unchanged since June 2006.
Regarding any future changes, the Fed opted to take a rather neutral position than in past statements. The board stated that any future rate changes will depend on how the outlook for both economic growth and inflation progress. Analysts took this comment as a way of "opening the door" for possible rate cuts in the future. This all depends on how the rate of economic growth progresses in the near future.

The chief economist for High Frequency Economics, Ian Shepherdson, states that it is normal for the rate of inflation to ease up when there is a slow down in economic growth. He predicts the first rate cut to take place in August.

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