Fed Warns of Economic Downturn
8 April 2008
The FOMC minutes were released this afternoon. Prices may increase in afternoon revisions to .375 lower on price. The Fed voiced that they were relatively convinced the economy will have contracted in the 1st Quarter of this year and were concerned about a sustained downturn in the economy. The noted that the housing sector shows little or no signs of recovery. Bonds improved today in trading as it seems highly likely the Fed will cut rates at its meeting later this month.
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