Federal Reserve Raises Discount Rate
Written by admin on February 20, 2010 – 5:20 amvia Marketwatch:
The move by the Federal Reserve to hike the discount rate on Thursday afternoon makes the central bank look a little more impatient today than it appeared 24 hours ago.
In making the announcement, Fed officials insisted that they are not signaling any immediate change in policy.
Fed watchers generally take them at their word, but they said the move does signal a shift in the thinking at the central bank, and that the Fed just looks a little more eager to get rates up.
“They give every appearance of signaling a loss of patience, which is noteworthy in its own right from a market perspective,” said Lou Crandall, chief economist at Wrightson ICAP in a note to clients.
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