Daily Real Estate News March 7, 2008Fed: Rates May Remain Low for AwhileThe Federal Reserve may need to keep a lid on interest rates for a significant length of time if the financial markets continue to be under duress, New York Fed President Timothy Geithner told the Council on Foreign Relations."If turbulent financial conditions and the associated downside risks to growth persist, monetary policy may have to remain accommodative for some time," he said.Geithner also said that dealing with growth risks and rising inflation "requires a fine balance" but added "if the medium-term outlook for inflation deteriorates significantly, the Federal Open Market Committee will move with appropriate speed and force to address this risk."Source: Reuters News, Pedro Nicolaci da Costa and Steven C. Johnson (03/06/08)
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