For immediate release
The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/2 percent.
Economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance. However, the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction. Today’s action, combined with the policy action taken in September, should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time.
Readings on core inflation have improved modestly this year, but recent increases in energy and commodity prices, among other factors, may put renewed upward pressure on inflation. In this context, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully.
The Committee judges that, after this action, the upside risks to inflation roughly balance the downside risks to growth. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Donald L. Kohn; Randall S. Kroszner;
Frederic S. Mishkin; William Poole; Eric S. Rosengren; and Kevin M. Warsh. Voting against was Thomas M. Hoenig, who preferred no change in the federal funds rate at this meeting.
In a related action, the Board of Governors unanimously approved a 25-basis-point decrease in the discount rate to 5 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Richmond, Atlanta, Chicago, St. Louis, and San Francisco.
Oluline on siinkohal see, et langetamine ei olnud enam ühehäälne. 0.25% võeti intressimäärast maha häältega 9-1. Hoenig soovis jätta määrad samaks. Samuti nenditakse inflatsioonilist survet ning öeldakse, et selle ja eelmise kärpega loodetakse õhutada kasvu ning 'ennetada' finantsturgude probleemide mõju majandusele. Samuti öeldakse, et majanduskasv on lähiajal tõenäoliselt langemas...
Kuni mai 2008. aasta maagaasi lepingute eest tänase päeva seisuga võimalik saada $8.1 ja $8.6 vahel - kõrgustesse pürgiv nafta hind on ka maagaasi hinda kaasa vedanud ning usun, et CHK, keda ikka jälginud olen, on neid tasemeid toodangu ettemüümisel ära kasutamas, mis tähendaks päris ilusaid kasuminumbreid ettevõtte jaoks. Hindade languse korral tasub ehk meeles pidada, et CHK'l on päris edukas track record toodangu ettemüümises, mistõttu pikaajalise energia-investeeringuna võib aktsia jälgimise alla võtta küll ja kui hind peaks langema, soovitan ettevõtet juba terasemalt puurida.
Just praegu lisasin LHV Pro alla ka põhjalikuma ülevaate Fundtechi (FNDT) 3. kvartali tulemustest, mis meile headmeelt valmistasid. Korrigeerisin ka meie prognoose ülespoole ning tõstame ka aktsiale antavat hinnasihti.
Head uudistamist!