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		Home Page We're about Mortgage News You Can Use     Fed panel opens two-day rate policy meeting Tuesday January 27, 2:05 pm ET WASHINGTON, Jan 27 (Reuters) - Federal Reserve policy-makers on Tuesday afternoon opened a two-day meeting amid signs the U.S. economy is gaining speed and widespread expectations they will leave interest rates untouched. The Federal Open Market Committee, the panel of central bank governors and regional Fed bank presidents that sets the key fed funds rate, began its meeting at about 2:00 p.m. EST (1900 GMT), a Fed official said. The meeting will continue Wednesday, with a post-meeting announcement expected at about 2:15 p.m. EST (1915 GMT) on Wednesday. Most observers expect the Fed to leave the target for the federal funds rate, the overnight rate at which banks makes loans to each other, at 1.00 percent, where it's been since June 2003. A Reuters survey on Jan. 9 found designated "primary dealers" in U.S. debt expecting the Fed to hold rates steady. The Fed wants to make sure the recovery is self-sustaining before hinting it could move rates, even though recent signs have pointed to a more buoyant economy. Earlier on Tuesday, The Conference Board said its monthly measure of consumer confidence had risen to its highest point since July 2002. Two weeks ago, in the Fed's own "beige book" report, its anecdotal look at conditions around the country, the central bank said the economy had "continued to improve" through early January. The Fed holds a pair of two-day meetings annually, ahead of the delivery congressionally mandated reports to Capitol Hill on monetary policy. The next scheduled FOMC ( News - Websites ) meeting is set for March 16, while the next two-day meeting is slated for June 29-30.   Back to Original Article: Mortgage News You Can Use   Continue with: Fed likely to leave short-term rate alone, economists say Consumer Confidence Rose in January Despite Job Concerns Consumers Upbeat in Jan. But Jobs Scant Can Consumer Spend If Rates Start Rising? What It'll Take to Move the Fed U.S. made clear it has strong dollar policy-Aldonas Greenspan: Trade Protectionism May Hurt Intl Prosperity Fed expected to keep promising `considerable period' of low interest rates Consumer Confidence Index in U.S. Jumps to 96.8, Highest Since July 2002 Gold Coins MBA Releases Long-Term Forecast for U.S. Economy and Housing Finance Market CBO Says '04 Deficit Will Rise to $477 Billion The Jobless Recovery A Cheap Dollar Boom Consumer Confidence Rises in January
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