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Article: A Look at Federal Funds Rate
- Article from:
- AP Online
- Article date:
- May 22, 2003
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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Dateline: WASHINGTON
Running out of room to lower a key interest rate, the Federal Reserve
is looking for other options to get the economy moving again.
Fed Chairman Alan Greenspan made clear at a congressional hearing
Wednesday that the central bank was not running out of "monetary ammunition"
to prevent a destabilizing drop in prices.
The Fed's main tool is the federal funds rate, which it can raise