Fed policy: steady as she goes

Federal Reserve chairman Alan Greenspan and his colleagues were predicted to keep interest rates stable on Tuesday 16 March as data showed further jobless recovery.

Interest rates at historic lows were boosting the housing market and large consumer purchases such as cars. But the economy created only a rather pathetic 21,000 jobs in February. The key federal funds target rate, held at the 1958 low of 1.0 percent since June last year, was thus not changed - and according to many observers could