TITLE

SOMC: Fed Should Keep Raising Rates

AUTHOR(S)
Newrnan, Emily
PUB. DATE
November 2004
SOURCE
Bond Buyer;11/16/2004, Vol. 350 Issue 32011, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the Shadow Open Market Committee (SOMC) of the U.S. Federal Reserve System has said in its semi-annual policy statement, that the U.S. economy remains healthy, but the Federal Reserve should work to contain inflation by raising interest rates gradually to between 3% and 4%. The SOMC also urged the Federal Reserve to continue its campaign to become more transparent by announcing a specific target for inflation, but added that inflation should not be the Federal Reserve's primary indicator on rates.
ACCESSION #
15112978

 

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