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Federal reserve chairman Alan Greenspan. US Federal Reserve policymakers raised the key short-term interest rate by a quarter point to 1.5 percent, blaming a spike in oil prices for curbing economic activity.(AFP/File/Manny Ceneta)

Federal reserve chairman Alan Greenspan (news - web sites). US Federal Reserve (news - web sites) policymakers raised the key short-term interest rate by a quarter point to 1.5 percent, blaming a spike in oil prices for curbing economic activity.(AFP/File/Manny Ceneta)

33 posted on 08/10/2004 12:03:56 PM PDT by NormsRevenge (Semper Fi .. Proud member of the FR Special Ops manuremovers crew .. moving manure&opinion since '96)

The U.S. Federal Reserve on August 10, 2004 raised interest rates another quarter of a percentage point to head off potential inflation, saying the economy was poised to pick up after a recent slowdown. The unanimous decision by the U.S. central bank's policy-setting Federal Open Market Committee moves the benchmark federal funds rate -- which influences credit costs throughout the economy -- to 1.5 percent. It was the second quarter-point increase this year, following one announced on June 30 after the last FOMC meeting. (Reuters Graphic)

The U.S. Federal Reserve (news - web sites) on August 10, 2004 raised interest rates another quarter of a percentage point to head off potential inflation, saying the economy was poised to pick up after a recent slowdown. The unanimous decision by the U.S. central bank's policy-setting Federal Open Market Committee (news - web sites) moves the benchmark federal funds rate -- which influences credit costs throughout the economy -- to 1.5 percent. It was the second quarter-point increase this year, following one announced on June 30 after the last FOMC meeting. (Reuters Graphic)

36 posted on 08/10/2004 12:16:36 PM PDT by NormsRevenge (Semper Fi .. Proud member of the FR Special Ops manuremovers crew .. moving manure&opinion since '96)