Minutes: Fed trying to stay ahead of uncertain economy

Worsening problems in the housing, credit and financial markets drove the Federal Reserve in December to slice its key interest rate yet again with the hope it would help bolster an economy that was losing speed, according to meeting minutes made public Wednesday.

All those problems also greatly increased uncertainty about the economy's outlook, prompting Fed policymakers to keep all their option open about their next move, the minutes of the closed door meeting on Dec. 11 revealed.

"Although members agreed that the stance of policy should be eased, they also recognized that the situation was quite fluid and the economic outlook unusually uncertain," the minutes said.

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- Posted: 2008-01-02 17:18:48

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