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The Fed had implemented 17 quarter-percentage point rate hikes since June 2004, raising the nation's benchmark rate from 1 percent to 5.25 percent, where it remained after Tuesday's meeting.
"We had been anticipating this pause for weeks now, and the accepted wisdom was that whatever they did was going to be anticlimactic for the market," said John Wilson, managing director of equity capital markets at Morgan Keegan. "This may be a little bit of selling on the news, sure, but I couldn't have asked for a better outcome from the Fed.
Abogados August 9, 2006 05:13 PM | Hipotecas | Preguntas Para Abogados
