Wall Street Recovers From an Early Cold On Good News From Fed
The Scotsman › August 30, 2006
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Summary
US STOCKS made modest gains yesterday, paring earlier losses after minutes from the latest Federal Reserve meeting raised no new worries about the outlook for interest rates.
Minutes from the Fed's 8 August policy-setting meeting showed that officials believed keeping interest rates steady would enable policy-makers to gather more data before deciding on any future rate increases. The committee voted at that meeting to pause in a two- year series of rate increases, and left the door open for further increases.See the full content of this document
Extract
Wall Street Recovers From an Early Cold On Good News From Fed
Earlier in the day data showing a drop in consumer confidence dented investors enthusiasm for stocks.
A slump in the Conference Board's consumer confidence i...See the full content of this document
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