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		Home Page We're about Mortgage News You Can Use     Fed likely to leave short-term rate alone, economists say Tuesday January 27, 2:52 pm ET WASHINGTON (AP) -- Federal Reserve Chairman Alan Greenspan and his colleagues, meeting Tuesday for the first time this year, are likely to decide after reviewing the economy's progress to hold short-term interest rates at a 45-year low, economists say. Fed policy-makers opened a two-day meeting that will wind up Wednesday with the Fed's announcement of its interest-rate decision in the afternoon. Economists widely expect the central bank will hold a key short-term interest rate steady at 1 percent, a 45-year low. Analysts also expect Fed policy-makers will retain a pledge to keep short-term rates at near rock-bottom levels for a considerable period. Some economists predict the Fed will leave short-term rates alone into 2005. But others believe the Fed will begin to nudge up rates later this year. The Fed's main lever for influencing the economy is called the federal funds rate. The funds rate is the interest banks charge each other on overnight loans. The Fed slashed the funds rate by a half percentage point to 1 percent on June 25. In meetings after that, policy-makers have opted to leave the funds rate unchanged. In the second half of 2003 the economy, after a long spell of lackluster activity, perked up, raising hopes that the recovery will be lasting. Hours before the Fed gathered Tuesday, an economic report showed that consumer confidence grew stronger in January, rising to its highest level since mid-2002. The Conference Board said its consumer confidence index rose to 96.8, following a dip in December to a revised reading of 91.7.     Back to Original Article: Mortgage News You Can Use   Continue with: 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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