Fed cut a psychological boost but little more

At face value, Tuesday's Federal Open Market Committee statement was an historic move that underlined the US central bank's commitment to do all it can to counter the crisis. But, though the statement met with widespread approval from the markets, it marks little real shift Fed's existing policy stance.

The committee's decision to cut its federal funds target to a lower-than-expected 0% to 0.25% range, along with its pledge to "employ all available tools to promote the resumption of sustainable

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: