Federal Reserve Press Release, 30 January

PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1-3/4 percent.

Signs that weakness in demand is abating and economic activity is beginning to firm have become more prevalent. With the forces restraining the economy starting to diminish, and with the long-term prospects for productivity growth remaining favorable and monetary policy accommodative, the outlook for economic recovery has become more promising.

The degree of

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