Time to Refi or Purchase
March 29, 2006
“Economic growth has rebounded strongly in the current quarter but appears likely to moderate to a more sustainable pace,” the Fed said in a statement explaining the outcome of the two-day meeting that started on Monday.
Federal Reserve officials lifted a key U.S. interest rate on Tuesday a 15th straight time and said further moves may be needed to keep inflation at bay.
The Fed repeated further rate rises may be needed, suggesting it was comfortable with financial market expectations for rates climbing to 5 percent in coming months.As widely expected, the U.S. central bank’s rate-setting Federal Open Market Committee voted unanimously to raise the benchmark federal funds rate target a quarter percentage point to 4.75 percent, the highest level since April 2001.
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