FOMC Press Release: Translation Provided (August 2007)

The Fed left the Fed Funds Rate unchanged again today for the ninth time in a row after 17 consecutive hikes. The Fed once again highlighted inflation containment as its chief concern while noting that pressures on the economy appear to be moderating. Mortgage rates were flat after the Fed's fairly neutral remarks. As always, the legendary Holden Lewis of Bankrate.com summarizes the Winners and Losers of yesterday's events. SourceParsing the Fed StatementThe Wall Street Journal OnlineAugust 7, 2007http://online.wsj.com/mdc/public/page/2_3024-info_fedparse_shell.html